LARSEN & TOURBO (LT) has been testing neckline of Head & Shoulder pattern post breakout. Move below 1697 will take price towards 1650 levels. On the upside, resistance is at 1765.
Comment:
LT is retesting the trend channel. Upside on cards only if closes above 1765 level.
Trade active:
Post taking resistance at trend channel , slided downside yesterday thus breaching the range .
Trade closed manually:
LT broke the range @ 1697 & made the low of 1677 before rallying upside and triggering the Stop-loss