The stock market is abuzz with the latest technical view on Larsen & Toubro, as provided by Prabhudas Lilladher Technical Research. The report suggests a positive outlook for Larsen & Toubro, with a buy recommendation at the current market price of ₹3372. The target price is set at ₹3760, representing an upside potential of 11.55%, while the stop loss is at ₹3240 to limit downside risk.
The analysis indicates that Larsen & Toubro has experienced a correction from its peak and is now showing signs of a trend reversal. The stock has found support near the 100 period MA level and is displaying positive candle formations on the daily chart. The RSI indicator has also corrected from the overbought zone, signaling a buy opportunity.
Investors are advised to consider buying Larsen & Toubro for potential gains, keeping a close watch on the technical indicators mentioned in the report. With the stock looking technically attractive, this recommendation could be a lucrative opportunity for traders looking to capitalize on the market movements.
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