Larsen Turbo is a heavy weight stock in Index.Stock corrected from its highs of 1720 almost for 4 months till 1360.05. Now stock seems to finding its support at these levels.
Short Term:
Larsen Turbo stock was moving in a down ward channel for almost 4 months. Stock seems to be finding its support at 1348 to 1360 levels. Go long on the stock at these levels to see the target of 1450 and 1480 in shorter term with SL at 1340. Stock also may see the higher end of the down ward channel at around 1530/1550 in a month or 2.
Long Term:
Larsen Turbo stock is moving in an upward slopping channel and now it is at the lower end of the channel at around 1340 to 1350 levels.Stock looks a good buy to enter for longer term at 1350-1365 levels to see 1560 and 1876/1900 levels in 6 months to one year. If this upward slopping channel breaks at that time we may see previous highs of 2220 levels.Go long on the stock at current levels with a strict SL at 1330 levels.
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