Larsen & Toubro Infotech Limited is engaged in computer programming, consultancy and related activities. The Company’s business segments include Industrials Cluster and Services Cluster. The Industrials Cluster segment consists of the business verticals of energy and process, consumer packaged goods, retail and pharmaceuticals, hi-tech and consumer electronics, automotive and aerospace, plant equipment, and utilities, engineering and construction. The Services Cluster segment consists of the business verticals of banking and financial services, insurance, media and entertainment, travel and logistics, and other miscellaneous business verticals.
SHORT TERM PERSPECTIVE
|Company||Larsen & Toubro Infotech Limited|
|Recommendation||Accumulate (Rs. 2005.95)|
|Stop Loss (SL)||Rs.1930|
|Target Price||Rs. 2150-Rs.2200|
|Time Horizon||2-4 Weeks|
Intermediate and short term trend is up in this stock. After a mild correction stock is trying to reverse from the previous breakout level which is placed around 1965 levels. Even after a correction stock is trading above all the major moving averages which indicate stock is moving in uptrend mode, also a bullish RSI and MACD buy signal has emerged on the daily chart. Therefore we are recommending to buy this stock at CMP Rs.2010 with a stop loss of 1930 (closing basis) for the target price of Rs. 2150-Rs 2200.Time frame should be 2-4 weeks.
DISCLOSURE IN PURSUANCE OF SECTION 19 OF SEBI (RA) REGULATION 2014
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