L&T’s shares rose 2% to Rs 3,555 after JP Morgan gave an ‘overweight’ rating and set a target price of Rs 4,360. JP Morgan believes L&T is well-positioned for growth in India and the Middle East. The company reported strong earnings growth and an increase in revenue in Q1 FY24.
Tech view: Nifty faces resistance from short-term moving averages, forms small negative candle. How to trade tomorrow
After acting as support for months, the 10 and 20-day exponential moving averages (EMAs) have recently been breached. These EMAs now pose resistance around 25,150-25,200,