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* On an option front, we are seeing Short Covering in “At The Money” with higher volume activity which indicates that traders have a bullish bias.
* Moreover, we are seeing a short built up in 1360 PE strike price which indicate bullish movement in the stock.
* On a daily chart, the stock has been trading with support of its “Lower Band of Bollinger band" which suggests a northward movement with high volatility in the counter
* A daily momentum indicator RSI’s reading is at 41.72 level with positive crossover which points out for a positive breath in the counter.
* Based on the above technical structure, we expect a bullish move in LT 1360 CE.
Buy Larsen & Toubro Ltd @ Options Ran Neeti Stoploss 25 Target 47 CMP 47
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