Ambareesh Baliga, Market Expert advises traders to buy L&T around Rs 1560. According to him, the stock may rally to Rs 1750-1800 in next month and half-two months.
Baliga told CNBC-TV18, “Last quarter also L&T surprised to a certain extent on the positive side. I expect something similar this time and also for the March quarter. So overall I am quite positive on L&T. The way I see it is we should see levels of about Rs 1,750-1,800 possibly in the next month and a half-two months. At the current levels, one should be buying it.”
He further added, "Capital goods space is one where I am bullish and surely Larsen & Toubro (L&T) is one stock, which I will still pick up like I have discussed so that’s one space and the remaining banking ones – I think that’s one space where I see a decent upside over the next atleast one or two weeks so that’s one space I would also buy.”