LT FOODS LTDLong
Daawat (LTFOODS) - Inverted H&S Shoulder Pattern - Long
Updated
Hi Friends,
Pranam!!!
We are now going to analysis the technical analysis of DAAWAT (L.T.Foods Ltd)
Trend of the script was in the uptrend- weaker side and its take the support of the EMA200.
The script has taken the support on the weekly TF at 61-64 Range.
Price Rejection was evidence near Support. Also the dynamic support was taken.
In Daily TF the script was in the strong support zone of 61-63 where the price was also the Higher TF Support.
The script has strong resistance at 72.50-73.50 and 82-84. The script was also taken the support at the trendline at 61.65
In Daily TF, the CPR was bearish bias and the CPR was acting as resistance level.
The stochastic RSI was in the near overbought zone in Daily TF and Overbought and 2HR TF and Oversold range in Weekly TF.
MACD lines are also in the bearish wing which near flat in daily and 2hr TF. Whereas in weekly TF, it in the glimpse of the bearishness.
ATR Volatility in the daily TF and 2hr TF was Flat.
In 2hr TF:
The script was formed in the Inverted Head and Shoulder Pattern formed with a Buildup and ATR was in down.
The script was above the CPR and Hourly CPR will be in the Bullish Bias.
Trend in the 2hr TF was in the Downtrend, but trend might changed due to retracement candle are getting bigger in 2HR and based on the above long-term trend was also in the uptrend correction phase.
Elliot Wave pattern was near completion corrective phase.
Overall, we conclude that LT Foods or DAAWAT on Bullish Note.
Entry - CMP (enter when stochastic RSI of 24 come below and retrace above 20)
SL - 66.05 - 1ATR ( Based on 2hr TF or Long-term use Daily TF ATR)
Target - 72.75
If like our analysis kindly press the thumb-up and do follow us.
Pranam!!!
We are now going to analysis the technical analysis of DAAWAT (L.T.Foods Ltd)
Trend of the script was in the uptrend- weaker side and its take the support of the EMA200.
The script has taken the support on the weekly TF at 61-64 Range.
Price Rejection was evidence near Support. Also the dynamic support was taken.
In Daily TF the script was in the strong support zone of 61-63 where the price was also the Higher TF Support.
The script has strong resistance at 72.50-73.50 and 82-84. The script was also taken the support at the trendline at 61.65
In Daily TF, the CPR was bearish bias and the CPR was acting as resistance level.
The stochastic RSI was in the near overbought zone in Daily TF and Overbought and 2HR TF and Oversold range in Weekly TF.
MACD lines are also in the bearish wing which near flat in daily and 2hr TF. Whereas in weekly TF, it in the glimpse of the bearishness.
ATR Volatility in the daily TF and 2hr TF was Flat.
In 2hr TF:
The script was formed in the Inverted Head and Shoulder Pattern formed with a Buildup and ATR was in down.
The script was above the CPR and Hourly CPR will be in the Bullish Bias.
Trend in the 2hr TF was in the Downtrend, but trend might changed due to retracement candle are getting bigger in 2HR and based on the above long-term trend was also in the uptrend correction phase.
Elliot Wave pattern was near completion corrective phase.
Overall, we conclude that LT Foods or DAAWAT on Bullish Note.
Entry - CMP (enter when stochastic RSI of 24 come below and retrace above 20)
SL - 66.05 - 1ATR ( Based on 2hr TF or Long-term use Daily TF ATR)
Target - 72.75
If like our analysis kindly press the thumb-up and do follow us.
Note
The Script was in the support range and if any bullish reversal candle evidence, we can go long. Where the Stoploss can be below support zone -1atr of daily tfTrade closed: target reached
Trail Your SL for for ride the trend
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