GIC Housing Finance may touch Rs 280: Kunal Bothra

According to Kunal Bothra of LKP Securities, GIC Housing Finance may touch Rs 280.

Kunal Bothra of LKP Securities told CNBC-TV18, " GIC Housing Finance is more of a short-term call. Looking at the hourly charts, there has been a good moving average crossover which is a good sign, probably start of a fresh uptrend. The stock has already broken a fresh swing high from the hourly charts perspective."

"From a short-term perspective the stock is trading at Rs 250-255 range and I think an upside of atleast Rs 280 could be possible in GIC Housing. The risk reward is also favourable, so keeping a stop loss of Rs 240 traders can look at a target of Rs 280 plus," he added.

Disclosure: Analyst has no personal holdings in the stock and it is possible that he may have recommended the same to his clients at LKP.

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