Technical Outlook & Trading Strategy:-
The share price of Larsen & Toubro has registered a break-out from a Head & Shoulders pattern. This is a bearish pattern and the measuring implication suggests towards a strong possibility of the share price declining towards the level of Rs 1450 /Rs 1435 / Rs 1400 in the near future.
We recommend a sell at current price and on pullback to the level of Rs 1505 - Rs 1515 with stop loss placed above 1542 for the aforementioned targets.