L&T Finance Holdings (₹61.2): Buy
Investors with a short-term horizon can buy the stock of L&T Finance Holdings at current levels.
The stock gained 13 per cent accompanied by extraordinary volume on Thursday, conclusively breaking above a vital resistance as well as the 21-day moving average at around ₹57. Following a sharp reversal from February high of ₹134, the stock registered a multi-year low at ₹46 in mid-March. Subsequently, the stock reversed direction from the oversold territory and began to trend upwards. Since then, the stock has been in a near-term uptrend.
The stock gained 13 per cent accompanied by extraordinary volume on Thursday, conclusively breaking above a vital resistance as well as the 21-day moving average at around ₹57. Following a sharp reversal from February high of ₹134, the stock registered a multi-year low at ₹46 in mid-March. Subsequently, the stock reversed direction from the oversold territory and began to trend upwards. Since then, the stock has been in a near-term uptrend.