Hello Traders and Investors, i hope you all will be doing good. I have brought an analysis on L&T Technology Services, i hope it will be beneficial to you guy's, So let's start:- As we all know Nifty IT was not performing well since last one year, but now it is accelerating,,i think this momentum will take all good fundamentally stocks to their all time highs. today also Nifty IT roaring with 611 points up(+1.97%) as of now.
I already have posted analysis of Tech Mahindra and similar kind of pattern we are seeing in this L&T Technology also. Hero Also we have seen neat and clean breakout on chart. In this also earlier trend was in Downtrend then Accumulation phase and now it has given breakout of Accumulation phase so now the trend has shift ot Uptrend. We will get confirmation in some few coming sessions.
Some Technical important Levels for L&T Technology Services:-
Best Entry Point to go long in it will be 4050-4120. Now it is trading at 4111. Keep stop loss at 3908 Targets will be 4311/4684
Price is above 200-D EMA (Means Trend is Positive) MACD is giving bullish crossover (Means Trend is positive) Indicator and Price Action showing bullish View in this stock.
Some other Important things about this Stock:-
₹ 43,383 Cr. Current Price ₹ 4,106 High / Low ₹ 4,319 / 3,076 Stock P/E 38.1 Book Value ₹ 469 Dividend Yield 1.10 % ROCE 32.8 % ROE 25.0 % Face Value ₹ 2.00 Debt ₹ 454 Cr. EPS ₹ 111 PEG Ratio 2.16 Promoter holding 73.8 % Intrinsic Value ₹ 2,622 Pledged percentage 0.00 % EVEBITDA 23.0
PROS
Company is almost debt free. Company has a good return on equity (ROE) track record: 3 Years ROE 23.7% Company has been maintaining a healthy dividend payout of 38.0%
CONS
Stock is trading at 8.90 times its book value.
Stock is Giving opportunity for long term investment also at this levels. So trade carefully and always follow discipline in trading.
Disclaimer:- Please always do your own analysis or consult with your financial advisor before taking any kind of trades.
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Entry Got triggered
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Have you taken entry?
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Guy's 1st Target has been done. Price is consolidating here, We might can see small breakout for this range, then it will definitely fly towards 2nd target