LNT share price target may 2013
l&t share today tumbled by 6% and closed at 1508 with loss of almost 98 rupees or 6%.on daily chart today move was nothing but sharp correction.
on daily chart,l&t share 3month average is 1502 and share closed above it.reversal from here will investment opportunity while if closed below 1500 then it will be shorting opportunity for future trades.on upside 1550 is month average while 1605 was week average.on indicators momentum is weak and sell signal already generated yesterday on chart.
for month of may,l&t share below 1605 remain sell and on downside we may expect sharp correction and big players selling pressure upto 1460 which is support for this month.on reversal case,above 1605 next upside target will be 1700.
on performance side,l&t share was market performer till yesterday but with today 6% drop now turned underperformer which is also a sell signal for this stock.