LARSEN & TOUBRO LTD.Short
LT short time term trade
Updated
Key points of trade:LT
Entry :- 2210-2230
Stoploss:- weekly closing above 2238
Target 1 :- 2050
Target 2 :- 1985
Description:- L&T completed its 2nd wave correction of monthly time frame in MAR20.
It started its 3rd wave on monthly time frame and completed the sub wave i of 3rd monthly wave near 17 JAN 22.
2nd sub wave of 3rd monthly wave was completed near 20 Jan 22.
Now, it has completed the sub sub wave 1 of the 3rd of 3rd monthly wave.
The RSI divergence on daily and weekly time frame confirm some down move for further upside move.
Disclaimer:- I am not a SEBI registered analysist. please do your own analysis before jumping in the trade and consult your financial advisor.
LTEntry :- 2210-2230
Stoploss:- weekly closing above 2238
Target 1 :- 2050
Target 2 :- 1985
Description:- L&T completed its 2nd wave correction of monthly time frame in MAR20.
It started its 3rd wave on monthly time frame and completed the sub wave i of 3rd monthly wave near 17 JAN 22.
2nd sub wave of 3rd monthly wave was completed near 20 Jan 22.
Now, it has completed the sub sub wave 1 of the 3rd of 3rd monthly wave.
The RSI divergence on daily and weekly time frame confirm some down move for further upside move.
Disclaimer:- I am not a SEBI registered analysist. please do your own analysis before jumping in the trade and consult your financial advisor.
Trade closed: stop reached
Note
Though our SL was hit the same day ( i think i was too early to publish this idea) later on the stock gives a good move in our direction but still didnt achieve our tgt price (low made 2072)
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