Price action on Larsen and Toubro is extremely choppy for the last couple of months..the price at 1400 odd levels have been a massive resistance so ar in 2019. The stock is fundamentally good but it will be beaten and sucked by the volatility that could prop in the coming weeks... This company rewards its shareholders genuinely and so far, it seems that stock hasn't found any good reason despite the company acquiring good and decent projects in the last six months..
Hence, if something does not perform well on the good news, it probably won't perform at all. But, technically, if the stock manages a chunky pullback 1000-050 is the level I am looking for a good load up. The price also coincides with a golden ratio trendline and good support. Therefore, from Risk reward perspective, 1000 is the Price.
Hence, if something does not perform well on the good news, it probably won't perform at all. But, technically, if the stock manages a chunky pullback 1000-050 is the level I am looking for a good load up. The price also coincides with a golden ratio trendline and good support. Therefore, from Risk reward perspective, 1000 is the Price.