one can hold Larsen and Toubro. It has support at Rs 1055-1070,
Bhambwani told CNBC-TV18, "I think support for L&T is clearly at Rs 1,055-1,070 levels which should be utilized as a stoploss for delivery based investors. On the upsides, should the markets continue the upmove which is quite possible. I think the resistance would come closer to Rs 1,620 levels. So if at all one is willing to wait, if one has a patience and one wants to take one’s chance, let one’s luck run, one’s profits run."
He further added, "One can hold on to one’s investment and possibly bet on seeing Rs 1,620 levels in the coming few weeks. Having said that I think if one decides to dig one’s heels into the ground and give this stock another two years timeframe, I think a significant upmove even from Rs 1,600 levels is likely. So by all means, I would recommend holding onto this share."
