Technical Analyst, E Mathew is of the view that initial target for Lanco Infratech would be at least around Rs 588 to 890.

Mathew told CNBC-TV18, "The problem here of course is that at these levels one would hesitate to initiate a buy in Lanco Infrastructure but certainly around Rs 470; it’s a big breakout above Rs 470. My stop loss unfortunately is little low so around Rs 470 zone, I am keeping my stop loss there, I would keep a big target here because after a long time the stock has seen this sort of a volume build-up and this sort of a major price hike. My initial target for Lanco would be at least around Rs 588 to 890. A good stock undoubtedly but the problem is this for traders with a deep stop losses."

Disclosure: It is safe to assume that analyst and his clients may have an interest in the stocks/sectors discussed.