Hot stocks/buying LIC housing

#1
1)I had bought LIC housing on 25-5-10 for 899(905 including brokerage & taxes) & sold it for 950(943 including brokerage & taxes) on 28-5-10. Yes, I know I should have waited as it touched 965.10.
I am thinking of buying LIC again at 910(910 as the value is high now, it will take tme I think to go to 900) & selling it on 960-970, is it a good idea?

2) What are other or better good stocks that I could invest in?

My budget is Rs 50,000
 

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