Larsen and Tubro shares may move to 1330 price level

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.

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