Stocks of most capital goods companies are expected to trade in a narrow band with a positive bias over the next five sessions amid lack of triggers. Weak business outlook for most companies in this sector continues to weigh on investor sentiment. Generally, across industrials managements body language and commentary remained weak on account of sustained deferrals and delays from clients across power equipment, oil and gas, metals, cement sectors. Weak industrial demand coupled with regulatory hurdles is impacting the sector's overall profitability.
Among the large companies, support for Larsen & Toubro is seen at 1,392 rupees, and resistance at 1,482 rupees. The stock has already rallied a lot and there has been some profit booking over the past four-five trading sessions,rall sentiment for the stock is positive. Bharat Heavy Electricals has been trading sideways for some sessions.
www.rupeedesk.in
