India’s largest engineering and Construction Company Larsen and Turbo Ltd. (L&T) does not need any introduction. Presently, L&T has strongly established itself in number of engineering and construction related fields and they are also exploring many new possibilities for future like they have increased their stake in fraud hit IT company Satyam to 12.04%. L&T has also given positive revenue results plus they are getting many new orders. However, L&T stock is not showing any good performance and this stock is touching its lowest values. As compared to last year, this stock has lost almost 80% of its value. Present trend of this stock is also negative because this stock is showing lower resistance at Rs 635-640 and upper resistance at Rs 685-690. Therefore, present buying in this stock is not advisable unless stock crosses upper resistance level. However, buying can become feasible if stock touches again 650 levels.
52 Week H/L Rs - 1,847.50 - 611.00
Risk segment- Low risk segment
Advice- Buy if falls below 660 or wait for it to cross 700 levels.
52 Week H/L Rs - 1,847.50 - 611.00
Risk segment- Low risk segment
Advice- Buy if falls below 660 or wait for it to cross 700 levels.