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Buy L&T Finance Holdings, target Rs 215

The stock can be bought at current level and on dips to Rs 183 with a stop loss below Rs 178 for a target of Rs 210-215 levels.


After hitting an all-time high of Rs 213.85 in the month of October 2017, L&T Finance Holdingswitnessed correction down to Rs 145-140 levels. It has seen consolidation between Rs 186 and Rs 140 odd levels for nine months and formed a base.
After a strong rally from the bottom of the base to Rs 186 levels, the stock has been consolidating in a narrow range between Rs 186 and Rs 172 levels for last three weeks.

On Monday, the stock witnessed a breakout from the pattern with momentum and volumes indicating buying participation in the stock.
The daily MACD line has given positive crossover with its average and the weekly line has moved above equilibrium level of zero suggesting consolidation phase is over and resumption of the uptrend.
Thus, the stock can be bought at current level and on dips to Rs 183 with a stop loss below Rs 178 for a target of Rs 210-215 levels.

MORE WILL UPDATE SOON!!
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