Buy Larsen and Toubro (L&T) at Rs 1640, says Amit Gupta, Head- Derivatives, ICICI Direct.
Gupta told CNBC-TV18, "Recently quite aggressive longs have been formed in Larsen and Toubro (L&T). It has remained an outperformer; no doubt about this. I feel Rs 1570 was the breakout level in the starting of the month and at Rs 1730-1750 somewhere the stock may find some resistance. It may go into some long liquidation, come back to Rs 1640 and then again you should start buying this stock. I think it should remain outperformer in the coming months also."
Gupta told CNBC-TV18, "Recently quite aggressive longs have been formed in Larsen and Toubro (L&T). It has remained an outperformer; no doubt about this. I feel Rs 1570 was the breakout level in the starting of the month and at Rs 1730-1750 somewhere the stock may find some resistance. It may go into some long liquidation, come back to Rs 1640 and then again you should start buying this stock. I think it should remain outperformer in the coming months also."
