Larsen & Toubro Ltd : Stay Long – Moving in Uncharted Territory under NDA 2.0

Larsen & Toubro Ltd : Stay Long – Moving in Uncharted Territory under NDA 2.0

/ By : / Category : Technical Views on Stock

Larsen & Toubro Ltd

L&T being the largest Engineering and Construction company in India is a direct beneficiary of the domestic infrastructure capex cycle. It is expected to perform well, backed by its sound execution track record and healthy order book. 

Stock is trading at all time high & moving in uncharted territory so investor can accumulate this stock on every dips. I was keep on advising this stock to our students since it was trading around 1500.

 

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CMP: 1596 @ 27th May 2019

For short to medium term trading one can follow given supports/resistances. 

Major Support-1: 1540

Major Support-2: 1400

Major Resistance-1: 1650
Major Resistance-2: 1700

 

(Note: Whenever price closes below its Support level or closes above its Resistance level then further move in that direction will accelerate. If it does not then it is advisable to accumulate near to support & book the profit near to resistance level.)

 

L&T Weekly Chart: 

                                                                                                                       L&T

 

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Disclaimer: 

Above details are my personal views on the Stock so please do your own analysis before doing any trade/invest.

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Jagdish Jha

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