rishiguy

LT LONG.

Long
NSE:LT   LARSEN & TOUBRO
LT has been in a nice uptrend, continuously making higher highs and higher lows. After the recent pullback to the 20 EMA , a nice continuation candle has formed. A long can be initiated keeping in mind the following levels, only if it sustains above long level for 15 minutes.

LONG ABOVE : 1505
STOP LOSS : 1469
TARGET 1 : 1541
TARGET 2 : 1577
Trade active
Trade active: Has made two higher lows on the daily timeframe after the initiation of out trade,
the structure is setting up for a fast move towards target 1.

Keep watch. :)
Trade closed: target reached: Target 1 reached at 1541, after 15 trading sessions. It would be prudent to trail stop loss to cost, convert this into a risk free trade.

Keep watch for target 2. :)
Trade closed: target reached: Target 2 has been reached at 1577 on 15-07-21, LT has pushed past its resistance at 1600 and has closed at an all time high of 1618.