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Buy CRISIL, Sell Larsen & Toubro recommends Mehul Kothari

According to the technical analyst from Anand Rathi, Larsen & Toubro can slip to Rs 1,800-level, while CRISIL can rally to Rs 3,700.

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Mehul Kothari Mumbai
LT (Larsen & Toubro)
Sell Near: Rs 1,900
Target: Rs 1,800
Stop Loss: Rs 1,950

The stock has been in a strong uptrend from Rs 1,430 towards Rs 1,940 mark and entered an overbought zone. The momentum oscillator on the daily scale are hinting towards a corrective move.

On the daily scale we are witnessing a bearish Engulfing candlestick pattern. Thus, we advise traders to sell the stock on rise near Rs 1,900 for target of Rs 1,800 in the coming sessions.

Buy Near Rs 3,350
Target: Rs 3,700
Stop Loss: Rs 3,170

During the latest trading session; the stock has confirmed a range breakout above Rs 3,380 level.

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First Published: Aug 23 2022 | 8:07 AM IST

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