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
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LT is retesting the trend channel. Upside on cards only if closes above 1765 level.
Trade active
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Post taking resistance at trend channel , slided downside yesterday thus breaching the range .
Trade closed manually
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LT broke the range @ 1697 & made the low of 1677 before rallying upside and triggering the Stop-loss