Stock of the day : Larsen & Toubro Ltd For Target Rs. 80 - Religare Broking
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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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SEBI Registration number is INZ000174330
