Stock market recommendations: According to Somil Mehta, Head – Alternate Research, Capital Market Strategy, Mirae Asset Sharekhan, Hindustan Zinc is a sell call today, while L&T (Larsen & Toubro) is a buy call:Hindustan Zinc – Sell in the range between Rs 420 & Rs 415; Stop Loss: Rs 432; Target: Rs 390Hindustan Zinc has broken a flag pattern on the downside and an upward sloping trendline on the downside and is trading below 200 DMA i.e. 453. Momentum indicators have also given a negative crossover around the zero line. The stock has been consolidating in a broad range since last week and has closed below 20 daily moving average i.e. 432, resuming the downtrend. The stock is expected to continue the downtrend till the previous swing low i.e. 390. Key resistance is 427 & 432 and support is at 410 and 390. L&T – Buy in the range between Rs 3675 & Rs 3660; Stop Loss: Rs 3580; Target: Rs 3800L&T has broken a small consolidation on the upside and has resumed the uptrend. The stock has been consolidating since last week and has taken support at the 10 daily moving average i.e. 3610. Momentum indicator has given positive crossover below the zero line. The stock is expected to continue the uptrend till the previous swing high i.e. 3730 and 3800. Key resistance is at 3686 & 3800 and support is at 3620 and 3580. Disclaimer: The opinions, analyses and recommendations expressed herein are those of brokerage and do not reflect the views of The Times of India. Always consult with a qualified investment advisor or financial planner before making any investment decisions.
