Chart Check from Kotak for Thursday, June 7: Manglore Chemicals, L&T

We have compiled technical recommendations from Shrikant Chouhan, Head – Technical Research, Kotak Securities for today.

Mangalore Chemicals

Monthly breakout on the stock has been at 41 levels.
Sustained trading is seen positively above 41 levels.
One can look for adding 50% at current levels of 44 and rest at 41 levels with stop placed at 38 close basis for target of 54 and 61.

Larsen &Turbo

Volume based activity is being seen in the Larsen and Toubro.
It has took support at retracement levels and support buying was witnessed.
Good base formation was seen at retracement levels.
One can look for trading long position 50% at current levels and rest 50% at 1220 levels with stop loss being placed at 1180 levels on a close basis for target of 1313 and 1394.


Disclaimer

Kotak Securities Limited (KSL) may have proprietary long/short position in the above mentioned scrips and therefore should be considered as interested. Analyst holding: Nil. The views provided herein are general in nature and does not consider risk appetite or investment objective of particular investor; readers are requested to take independent professional advice before investing. This should not be construed as invitation or solicitation to do business with KSL.

(The views and recommendations expressed in this section are the analysts' and do not represent those of EconomicTimes.com)