Buy LT 1800 Call, advises Chandan Taparia

Chandan Taparia of Anand Rathi recommends buying Larsen & Toubro 1800 Call.

Chandan Taparia of Anand Rathi told CNBC-TV18, "We are observing support base buying in all the capital goods counter in the last series. We are witnessing some Put writers at the lower strike. Although Larsen & Toubro  (L&T) is slightly declined in last two trading sessions but the way again it has recovered with a built up of long positions, it is indicating that it is all set to start the next leg of momentum. Earlier it was finding hurdle near Rs 1,750 zone but now the way it is holding the gains above Rs 1,750, it is all set to move towards Rs 1,800 and then Rs 2,000 levels on the higher side in the coming months."

"On immediate basis, we are suggesting to trade in the option, we are suggesting to buy 1,800 Call, which is trading near Rs 50, keep the stop loss of Rs 30 in this and target to Rs 85," he added.

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