Trading ideas by Nilesh Jain of Anand Rathi: Buy L&T, IDFC First Bank

L&T stock has witnessed a build-up of long positions with the addition of 6 per cent open interest

BUY L&T 

TARGET: Rs 1,350 
 

STOP LOSS: Rs 1,255

The stock is making a higher top and higher bottom formation on the daily chart. It has also surpassed its 200-weekly moving average which is placed near 1,260 levels and will now act as immediate support. The momentum indicators and oscillators are in buy mode on the weekly scales, supporting the positive momentum. The stock has witnessed a build-up of long positions with the addition of 6 per cent open interest.

BUY IDFC First Bank

TARGET: Rs 39 
 

STOP LOSS: Rs 35.5

The stock is trading in a rising channel. It