See upside in L&T, Prakash Gaba

Prakash Gaba of prakashgaba.com is of the view that one may see upside in L&T.

December 18, 2017 / 15:23 IST

Prakash Gaba of prakashgaba.com told CNBC-TV18, "Larsen & Toubro's (L&T) basic structure is positive, so upside is on. A very strong support in the vicinity of Rs 1,100, so I would say continue holding it who knows where it goes. It has given a breakout and is holding out which tells me that there is much more upside maybe around Rs 1,500 is possible. Upside is still on in L&T, it is in buy mode."

At 15:16 hrs Larsen & Toubro was quoting at Rs 1,216.65, up Rs 13.35, or 1.11 percent.

The share touched its 52-week high Rs 1,274 and 52-week low Rs 868.04 on 10 November, 2017 and 23 December, 2016, respectively.

Currently, it is trading 4.5 percent below its 52-week high and 40.16 percent above its 52-week low.

first published: Dec 18, 2017 03:23 pm

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