January 05, 2009 | Ramki | Comments 0

Larsen & Tubro, India

Lookout for a potential failure around 920. Although the rally from the recent low looks good enough to qualify as part of a larger up move, I am not ready yet to recommend buying dips on this stock. Instead, I am going to take profits on my current holdings at 915, assuming it gets there, and stay on the sidelines for a few sessions. Once we know for certain that the market has turned, we will thereafter start building our portfolio, and Larsen & Tubro and other fundamentally good stocks will figure in that portfolio. Stay tuned.

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Filed Under: Indian Stocks Trading

Tags: Elliot Wave Analysis of Indian Stocks • Low risk trade idea

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