Einstein15

L&T Lifetime Breakout

NSE:LT   LARSEN & TOUBRO
L&T is retesting the lifetime highs after two years. H&S and also moving n a channel.
What is target in case of breakout?
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@yndesai, i think its hard to tell in the case of Lifetime_breakout.Its uncharted territory up there.
One can think of 127 FIB extension of right shoudler or 127 FIB EXT of the head ,according to your trading taste.
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yndesai Einstein15
@Einstein15,

I find there is a long term channel in this and might face resistance at around 1350 level. What do you say ?

Reply
@yndesai, OH nice catch. Monthly is too big of a time frame for me. But here is what i think.
But before getting into Monthly channel, it has tobreak the daily (dotted)channel that i hv drwn on the Head n shoudlers chart above.After it breaks above close above then we can move onto monthly


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