2024-10-23 10:54:03 am | Source: Religare Broking Ltd
Stock of the day : Larsen & Toubro Ltd For Target Rs. 80 - Religare Broking
Larsen & Toubro Ltd
* Among the heavyweights, LT is showing underperformance for a long stretch (6 months) delivering negative returns.
* Stock trading at lower channel of its range, sharp selling is witnessed & fresh resistance are seen at 100 EMA,
* Also, the stock has faced resistance at 38.2% of Fibonacci retracement of its previous corrective move from highs.
* Expect the negative bias to continue, and traders are recommended to play the trend via PUTs in the mentioned range.
Buy Larsen & Toubro Ltd CMP 50.8 Range 48-52 SL 32 Target 80
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The content of this article is for informational purposes only and should not be considered financial or investment advice. Investments in financial markets are subject to market risks, and past performance is not indicative of future results. Readers are strongly advised to consult a licensed financial expert or advisor for tailored advice before making any investment decisions. The data and information presented in this article may not be accurate, comprehensive, or up-to-date. Readers should not rely solely on the content of this article for any current or future financial references.
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