Buy L&T Finance Holdings, target Rs 215: Ashish Chaturmohta

Trade

• Watchlist
• Portfolio
• Message
• Set Alert

 

 

live

• bselive
• nselive

Volume

Todays L/H

More

×

Ashish Chaturmohta
Sanctum Wealth Management

After hitting an all-time high of Rs 213.85 in the month of October 2017, L&T Finance Holdings witnessed correction down to Rs 145-140 levels. It has seen consolidation between Rs 186 and Rs 140 odd levels for nine months and formed a base.

The daily MACD line has given positive crossover with its average and the weekly line has moved above equilibrium level of zero suggesting consolidation phase is over and resumption of the uptrend.

Thus, the stock can be bought at current level and on dips to Rs 183 with a stop loss below Rs 178 for a target of Rs 210-215 levels.