BUY HEG | TARGET: Rs 2,520 | STOP LOSS: Rs 2,150
HEG stock after trading with a strong uptrend recently underwent some consolidation. During this phase, it was oscillating in a range of Rs 2,000-2,250. In the previous session, the stock managed to break out from this range with decent volumes which indicates accumulation. Hence, traders are advised to buy the stock near Rs 2,280 with a stop loss of Rs 2,150 for an upside potential target of Rs 2,520 in 1-3 weeks.
BUY LARSEN & TOUBRO | TARGET: Rs 1,450 | STOP LOSS: Rs 1,300
Recently Larsen & Toubro corrected from the peak of Rs 1,600 and settled near the Rs 1,300 mark. During the process, it made a falling wedge formation. In the previous session, the stock confirmed a breakout from this pattern which has a theoretical target of at least Rs 1,450. The price action was supported by the positive placement of oscillators along with a ‘hammer’ formation on the weekly scale. Thus, traders are advised to buy the stock near Rs 1,350 with a stop loss of Rs 1,300 for the upside potential target of Rs 1,450 in 1-3 weeks.