Explained on chart. Bullish flag formation needs confirmation .( decisive break of upper down trend line ). Standard disclosure.... I am not god( just kidding ) .... i may be wrong ....trade according to your own risk management . happy trading !!!
Price action on Larsen and Toubro is extremely choppy for the last couple of months..the price at 1400 odd levels have been a massive resistance so ar in 2019. The stock is fundamentally good but it will be beaten and sucked by the volatility that could prop in the coming weeks... This company rewards its shareholders genuinely and so far, it seems that stock...
Price seen finding support from the horizontal demand line, bounce expected to touch atleast 1390!
This chart shows you the current monthly fibonacci sequence in which this stock is. At the moment the stock is trading in between the support zone ( 1200 ) and resistance zone ( 1470 ). A Monthly candle close above 1470 would take it to the potential target of 1650 . This is just my view...... you are free to comment.
Ongoing trend is down, so stick to trend, and go short! Targets 1240 and 1200!
After an impulsive decline a three wave corrective structure has found resistance at 61.8 retracement. Short L&T now. Stop loss as per your risk mangement.
Bullish Gartley LT** PRZ 1366-1368 SL 1344 Target 1390/1408
Hi Everything mentioned on chart :- Price near long term resistance line Bearish divergence Doji Double top Global factors Is it going towards 769 in next few months ? Invest,Trade Cautiously Regards Sumeet Lunia New Delhi 6 Dec Sunday (Price @ 1388.05)
LT HAD MADE AN ENDING DIAGONAL IN THE C WAVE ON THE DOWNSIDE. THIS WAS DEMONSTRATED BY THE FACT THAT THE ENTIRE C WAVE WAS RETRACED IN LESS THAN 1/4TH OF THE TIME TAKEN FOR IT TO FORM. THIS MEANS THAT THE CURRENT UPMOVE IS AN IMPULSE. WAVE 1 AND WAVE 3 OF THIS IMPULSE HAVE ALREADY BEEN COMPLETED AND WAVE 3 IS SLIGHTLY LONGER THAN WAVE 1. THIS MEANS THAT THE 5TH...
Recent fall following bearish engulfing in weekly and close below bollinger lower band would keep the sentiment in negative bias for Oct. Expect the expiry would stay below Rs.1400.