Trade Idea of The Day - Larsen and Toubro Ltd Target Rs.110 - Religare Broking Ltd
Larsen and Toubro Ltd
BUY 28 APR 4100 CALL Larsen and Toubro Ltd Entry Range 68 – 73 Target Range 110 Stop Loss 50
Rationale
* On the daily chart L&T has staged a strong recovery from lower levels, reclaiming lost ground with sharp bullish momentum. Sustained buying interest indicates renewed confidence among market participants.
* Prices are now holding firmly above its key moving averages of 50-DEMA, which signals a shift back into a positive trend and strengthens the bullish structure.
* Momentum indicators are supportive, with RSI trending higher and MACD witnessing a bullish crossover, suggesting improving strength and continuation potential.
* As long as the price sustains above the crucial support zone near the moving averages, the prevailing uptrend is likely to resume, with upside potential toward previous swing highs in the near term.
Please refer disclaimer at https://www.religareonline.com/disclaimer
SEBI Registration number is INZ00017433
