Larsen and Toubro may test Rs 1220-1230: Ashish Chaturmohta

Ashish Chaturmohta of Fortune Equity Brokers told CNBC-TV18, "Larsen and Toubro (L&T) is one counter which we have been recommending from Rs 990 odd level. We have seen a very strong build-up of position in the stock. So, we are recommending this stock at current levels and any dip towards Rs 1,120 to average the long positions with a stoploss of Rs 1,100."

"Technically this stock has given a major breakout on its weekly and monthly charts. So the next possible target on upside would be Rs 1,220-1,230 in short-term whereas Rs 1,280 could be a possible target in next one-to-one-and-half-month," he said.

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Disclosure: He does not have any personal holding in the stock.