|Sell Range||140 – 135|
|Target||118 – 113|
|Duration||45 – 50 Trading Sessions|
|Potential Return^||17 – 20%|
|CMP#||Idea||Sell Range||Target||StopLoss*||Duration||Potential Return^|
|141.5||SELL||140 – 135||118 – 113||144||45 – 50 Trading Sessions||17 – 20%|
# CMP on Jan 11, 2019
* Maintain recommended StopLoss by daily closing basis.
Once 1st target hit, reset StopLoss at 130.
^ The returns are calculated based on CMP#
L&T Finance Holdings Ltd is a nonbanking financial institution offering a diverse range of financial products and services across corporate, retail and infrastructure finance sectors, investment management services etc. Headquartered in Mumbai, the company has diverse clients which include individual retails, large companies, banks, SME etc. L&T Finance Holdings reported a consolidated net profit of Rs 560.41 crore for the quarter ended September 30, 2018, compared to Rs 337.53 crore reported during the corresponding period of 2017-18.
|Sectoral Index||Nifty Financial|
TECHNICAL OBSERVATIONS (WEEKLY)
- The share price witnessed a strong rally during 2016-2017, rallying from ₹ 50 to lifetime high of ₹ 213.85 in October 2017.
- After the lifetime high, the stock had been moving in the lower top and lower bottom formation indicating negative bias.
- Overall trend and the broader pattern are bearish and any reactive pullback might be temporary in nature.
TECHNICAL OBSERVATIONS (DAILY)
- The stock price has slipped into sharp decline during this week and breakout below the trend line indicates a negative sign.
- The price closed below 10 and 5 days Moving average crossover which considered bearish and helps to propel further downside movement.