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Friday, September 23, 2011

TRADING RECOMMENDATIONS Larsen & Toubro

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.