Larsen and Toubro (L&T) has support at Rs 1380, says Rikesh Parikh, Vice-President Markets Strategy and Product Development -Equities, Motilal Oswal Financial.
Parikh told CNBC-TV18, "On expectation yesterday we had seen some build up already happening in the stock and it seems like sell on news kind of thing but probably both L&T and BHEL are forming a good base as such, so on decline one can be looking at. BHEL has got a good base around Rs 320 levels and Larsen around Rs 1380 levels is a good support level for the stock."
Larsen touched its 52-week high Rs 1,863.90 and 52-week low Rs 971.00 on 26 Jul, 2011 and 21 Dec, 2011, respectively.
Currently, it is trading -25.4% below its 52-week high and 43.21% above its 52-week low.
Market capitalisation stands at Rs 85,210.05 crore. Disclosure: We would have recommended few things to our clients also what we have discussed today.
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