dhananjay.d.joshi

Larsen & Toubro short term analysis

BSE:LT   LARSEN & TOUBRO LTD.

As we are out of down trend channel and forming swing highs and swing lows stock looks in good up trend, but I am not convinced with the move, reason being DMI and CMF both are not supporting the up move.

I expect stock to correct from supply zone just above CMP.

If we get out of up trend channel then that will be the conformation of correction.

Levels for possible trades are on chart.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.