L&T Finance Holdings can touch Rs 82-84: Manghnani

L&T Finance Holdings can touch Rs 82-84, says Anil Manghnani, Modern Shares & Stock Brokers.

Manghnani told CNBC-TV18, "After a big move L&T Finance Holdings has corrected, so it will give you at least a trading opportunity. The stock has fallen from about Rs 89 to about Rs 71; Rs 71 is an important support at least from a trading point of view. So keeping Rs 71 as a stop loss, just a trade back to Rs 82-84 should be on the cards."
He further added, "I am a little surprised the way Sun TV after falling from Rs 370 all the way to Rs 310, it has bounced back and in fact made a new high in this move at Rs 383 yesterday. But if you look at the F&O data it looks like a short squeeze there. I think somebody has definitely got caught on the short side; Rs 385 is a key level for it. If it takes out Rs 385 then probably headed all the way to Rs 425."