Parag Doctor, Head - Trading Strategies of Keynote Capital's Ltd told CNBC-TV18, "There has been some kind of distribution pattern in L&T Finance. We are seeing lot of supply coming in the Rs 85-90 zone."
"So we advice to hold on with a trading stop loss around Rs 75 and if there is a rally in this Rs 85-90 zone it will be a good time to at least partially exit the stock and may be hope for levels closer to Rs 100. That will be a time to really exit totally. Since this distribution pattern is going on since the last three-four months it will be difficult for the stock to really cross Rs 100 in a hurry," he added. Also Read: L&T to bid for coast guard contracts worth $695m
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