Larsen and Tubro share prices were consolidating in a range. It was after a big move the share price saw a big move on day of announcement of stimulus package by the government.
The share prices broken out of this trading range yesterday. This makes a Flag pattern on the intraday chart. Flag pattern is a bullish signal for the share prices.
The stock may move to higher levels of 1330 -1340 in coming days if it sustains above 1230 price level. Short term traders may buy the stock near 1230 – 1240 price range, keeping stop-loss at 1205.