Stop loss: Rs 3,155
The stock is witnessing a resistance breakout from its immediate resistance level placed at Rs 3,205. Further buying momentum would be witnessed if the stock moves above Rs 3,205. Also, the stock is trading above its important moving averages. We recommend buying the stock above Rs 3,205 for a target of Rs 3,295, keeping a stop loss at Rs 3,155 on closing basis.
Buy Larsen & Toubro (Above Rs 1,185)
Target: Rs 1,255
Stop loss: Rs 1,145
The stock is witnessing a breakout from its bullish flag pattern. Further buying momentum might be witnessed if the stock moves above Rs 1,185. Breakout from the level of Rs 1,185, which is the stock's immediate resistance, might lead it to trade higher. The stock is also sustaining above its important moving averages. We recommend buying the stock above Rs 1,185 for the target of Rs 1,255, keeping a stop loss at Rs 1,145 on closing basis.