The price of the stock L&T (NSE: LT) is has broken out toward all time highs (ATH) on the day time scale. The price retraced toward previous high of 2420 and has exhibited a continuation.
Bulls are strong in the ATH zone and buying the breakout is the most logical thing toward risk management level of 2420.
Long-term target would be 2.618 Fibonacci extension of 3120.