A Range Breakout on WEEKLY and DAILY Timeframe can be seen in LARSEN & TOUBRO. Would suggest to go Long or make long Position at CMP or also can enter in that zone if it doesn't close below the zone on weekly timeframe. Can be a good positional trade for the target of level 1885 or you can also consider latest dip as a upside target with strict stop-loss of 1511 level OR you can also consider given zone as a stop-loss if breaks and closes below the zone in weekly timeframe at 1585 level (only on closing below basis on weekly timeframe). And if manages to close above the given zone of 1586-1607 in MONTHLY TIMEFRAME chart it'll be considered as a MULTIYEAR BREAKOUT, Will update Target if SO happens.
THIS VIEW OF MINE IS PURELY BASED ON TECHNICAL CHART, BEWARE OF NEWS AND OTHER FACTORS WHICH CAN AFFECT THE MARKET SENTIMENT.