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Larsen & Toubro shows strong development within a rising trend channel in the medium long term.
Rising trends indicate that the company experiences positive development and that buy interest among investors is increasing.
It is moving within a rectangle formation between support at 1222 and resistance at 1331. A decisive break through one of these levels indicates the new direction for the stock.
The stock has support at rupee 1230 and resistance at rupee 1400. Positive volume balance, with high volume on days of rising prices and low volume on days of falling prices, strengthens the stock in the short term.
The stock is overall assessed as technically positive for the medium long term.
