LT : Cup and handle

Since 2010; Prices are trending between channel, which is drawn with yellow colour trend lines but since 2015 majority of time, prices took support at green trend line . In recent past it has Developed cup and handle price patten. You can see the decreased in the volume at handle part which suggest accumulation and handle part has retraced approximately 38.2%, which ensure the good support and healthy trend. Let the price settle over 1600 then 1650 to ensure multi year break out and confirmation of price pattern. Major support is green trend line . Duration of target is 6-8 months. Here, Need to understand the nature of the stock for such big target and duration, LT stock majorly fluctuates on news, earnings and contracts. Nature of the business doesn’t give recurrent cash flow currently they are trending because they have received huge contracts.