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Published on 20/05/2019 9:38:07 AM | Source: re

Option Strategy Larsen & Toubro Ltd by Religare Securities

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Larsen & Toubro Limited (LT)

LT has been consolidating in a broader range 1200-1450 for more than a year now, while holding firmly above its support zone of 100 EMA on weekly chart .Today i.e. on May 17, it has surpassed the hurdle of multiple moving averages on the daily chart, with noticeable rise in volume. We advise initiating fresh longs through Call option in the given range.

Recommendation

BUY 1380 CE Larsen & Toubro Limited @ 25-28 Stop Loss 20 Target 44 CMP 31.50

 

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