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Currently, the LTTS is trading above its short and long-term moving averages. These averages are on a rising trajectory and are in the desired sequence, suggesting a strong trend. Notably, the daily RSI took support in the zone of 60-62 and experienced a sharp rebound, which is a bullish sign according to RSI range shift rules.
L&T has become the top player in practically every sector in which it operates, and should hit new heights if the government continues to push for more infrastructure
A long build-up was seen in 73 stocks, which included Birlasoft, IndiaMART InterMESH, SAIL, Hindustan Aeronautics, and Chambal Fertilisers & Chemicals.
A short build-up was seen in 55 stocks, which were Abbott India, M&M Financial Services, ICICI Prudential Life Insurance Company, L&T Technology Services, and IRCTC.
The last few years have been tumultuous, marked by flux like never before. Numerous trends are emanating that are...