Buy LTI (L&T INFORTECH)
Target: 7100 rupees
Stop Loss: Rs 6000
In the past few sessions, we have seen some momentum in mid-cap IT stocks. LTI is also about to break out on the daily range. In addition, the stock recently confirmed a breakout from the downtrend line. Thus, short-term traders are advised to buy shares in the range of Rs 6,300 – 6,260 with a stop loss of Rs 6,000 on a close of potential upside target of Rs 7,100 in the next 1-2 months.
Target: 1,275 rupees
Stop Loss: 1100 rupees
SYMPHONY confirmed a range breakout above the Rs 1,150 mark. The price action was accompanied by exceptional volume indicating accumulation. Also, there is potential for fresh momentum once the stock closes above the Ichimoku flat line on the weekly range. Thus, one can see the stock near Rs 1,160 with a stop loss of Rs 1,100 to an upside target of Rs 1,275 in the next 2-3 weeks.
Mehul Kothari – AVP – Technical Research, Anand Rathi Shares & Stock Brokers. Opinions are personal.
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