Sell Larsen & Toubro Ltd., target Rs 1370.0 : CapitalVia Global Research Ltd

CapitalVia Global Research Ltd has Sell call on Larsen & Toubro Ltd. with a target price of Rs 1370.0. The current market price of Larsen & Toubro Ltd. is 1451.3. Time period given by analyst is week, when Larsen & Toubro Ltd. price can reach defined target. CapitalVia Global Research Ltd recommended to keep stop loss at Rs 1470.0. The stock is witnessing a strong downtrend on its daily chart. It has given a breakdown from its short-term consolidation which is a bearish sign. Overall, the stock is nicely poised for further down move as it sustaining below its support level of Rs 1,470. The stock is trading below its both short and medium term moving averages of 10 and 50-days.