In the previous session, market had a corrective move with a negative bias throughout the day. Nifty index opened on a flat note but soon slipped into negative territory. No major recovery was seen from lows throughout the session. The Index formed a Bearish candle on the chart and closed with a net loss of 37.50 points. Market looks volatile in the coming sessions, hence a cautious approach is advisable for the next trading day.

Look at the below research report of ‘Stocks to Buy for Friday, January 13,2023′ before the market opens.

Larsen & Toubro Ltd

In the daily time frame, L&T share prices are moving above a Symmetrical Triangle Pattern. A rising window occurred on the chart. Stock prices were facing hurdles near 2150 levels. Now a stock has formed a Bullish candle in the previous trading day, which indicates that more buyers are entering in the stock to take prices further up. As seen on chart, prices are comfortably closed above the 20 EMA support which is a sign of bullishness for the coming session.

In short, the trend for L&T looks to be positive for now. We can expect it to reach a target of 2200/2300 levels based on our analysis. This outlook is valid as long as we do not see any closing below 20 EMA. If the price will sustain near 2200 levels, then we will review this stock again.

Check More Analysis on L&T at: Larsen & Toubro Ltd