The stock was trading in the range of Rs 2,950 to Rs 3,025 on Thursday, with the current market price at the higher end of this range. Shah’s advice to investors is a straightforward “buy”.
Sharing his recommendations and analysis on various stocks, including L&T, in an interview with CNBC-TV18, Shah suggested that any dip in the stock’s price toward the range of Rs 2,980 to Rs 3,000 should be viewed as a buying opportunity. Shah has set a target range for L&T between Rs 3,150 and Rs 3,200. He also emphasised that this is more of a positional call, indicating a longer-term perspective.
Notably, L&T shares had already gained more than 11 percent in the last one month, making it an attractive proposition for investors.
Shah pointed out that when considering the bigger picture for Bank of Baroda, it appears to be on the cusp of a significant breakout after 13 years.
For investors eyeing Bank of Baroda in the month of October, Shah provided a target of Rs 238 while recommending a stop loss at Rs 195.
In the preceding month, the stock had already witnessed a remarkable gain of more than 12 percent.
In the non-banking financial companies (NBFCs) space, Shah identified LIC Housing Finance as a promising candidate. One of the factors contributing to his optimism is LIC Housing’s consistent support at the 20-day Exponential Moving Average (EMA).
Over the past month, the stock had demonstrated impressive growth, having gained more than 10 percent.
Disclaimer: The views and investment tips expressed by investment experts on CNBCTV18.com are their own and not that of the website or its management. CNBCTV18.com advises users to check with certified experts before taking any investment decisions.
(Edited by : C H Unnikrishnan)
First Published: Sept 28, 2023 1:12 PM IST