purchase L&T, Tech Mahindra; keep away from Cummins India: Ruchit Jain

Ruchit Jain advises shopping for Tech Mahindra around Rs 520 for goal of Rs 580.
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The Nifty broke above its critical resistance of 8,000 on Thursday at the returned of brief overlaying andsparkling shopping for. The blue chip index is poised to move up to 8,240-8,250 inside the quick time period, says Ruchit Jain, fairness technical analyst with Angel broking. (Watch video)

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purchase Larsen & Toubro: The stock gave a breakout on Thursday, after an extended length of underperformance. The stock had corrected drastically and a rally was due. inside the short time period, Larsen & Toubro can go up to Rs 1,540 and in case momentum maintains, then it could pass up to tiers of Rs 1,680.

purchase Tech Mahindra: The inventory broke above consolidation range after results. because ofbreakout, trend has modified for stock and on upside it may go to ranges of Rs 579-589 in near time period. buyers should purchase on dips round Rs 515-520 for target of 575-580.

avoid Cummins India: traders should keep away from backside-fishing in Cummins India. The stockturned into taking aid around Rs 832-840 and broke below those degrees at the back of sellingpressure with big volumes. some more decline is viable in this inventory and it can move down tostages of Rs 735-745 in close to time period.

maintain Indiabulls real property: The stock staged an impulsive pass on better side. it is able to pass as much as Rs 108-109.