L&T SHORT POSITIONAL TRADE

NOW THE STOCK HAS TRADED FOR OVER A MONTH IN A RANGE OF 1209 TO 1240.
AND YESTERDAY WENT BELOW THE RANGE AND MANAGED TO BOUNCE BACK AND FORM A HAMMER CANDLESTICK PATTERN
BUT TODAY IT SAW A GAP DOWN AND IS FIND HARD TO CROSS BACK ABOVE ITS 20 DAY MOVING AVERAGE
IT MEANS THAT THE STOCK IS UNDER PRESSURE AND THE MOVING AVERAGES ARE SQUEEZING AND COMING NEAR TO EACH OTHER
SO NOW TRADE CAN BE EXECUTED ON THE DOWN SIDE AND WE WILL USE THE CONFIRMATION OF CLOSE BELOW 1209
TRADE VIEW
LITTLE BIT OF RISK
SHORT @ 1203
STOP @ 1210
TARGET @ 1187/1180

Comment:

hope some one has made money!!

Trade active:

L&T has bagged orders worth 1600cr
its kind of positive news one can book profits in the stock and exit or one can hold till the stop loss.
If stop does not get taken away we can see further downside

Comment:

TRADE CAUTIOUSLY BECAUSE NEWS IS NOT FACTORED -IN

Trade active:

traders holding this stock can increase stop loss to 1213

Trade active:

Trade closed: stop reached