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Apr 11, 2012, 11.40 AM IST
According to IIFL, traders can sell Larsen and Toubro (L&T) Future below Rs 1283 with stop loss of Rs 1313 for target of Rs 1223, in its April 11, 2012 research report.
According to IIFL, traders can sell Larsen and Toubro (L&T) Future below Rs 1283 with stop loss of Rs 1313 for target of Rs 1223, in its April 11, 2012 research report.
“Larsen & Toubro (SELL, Below Rs1,283, Target Rs1,223): Larsen & Toubro has signaled a trend reversal after three white soldiers failed to carry the positive momentum beyond Rs1,375 which turns out to be the bearish resistance line. The break away gap appearing on Tuesday trading session was also filled up after an appearance of negative candle on Wednesday trading session. The daily RSI has failed to ignite positive momentum and has been struggling to surpass the resistance of 55 levels. We recommend going short on L&T April Futures below Rs 1283 with stop loss of Rs 1313 for Target of Rs 1223. (Duration 7 days),” says IIFL research report. Public holding more than 90% in Indian cos Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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