Swingtrader20192015

Breakout from Channel Pattern in LT

Long
NSE:LT   LARSEN & TOUBRO
LT has given strong breakout from ascending channel pattern. Volumes wee 5X on the day of breakout.

LT may retrace and test the trend line as the market is looking weak.

Try to enter between 1020-1040 levels.

Targets would be 1120/1170 and SL below1000.

P.S.: I have entered at 1043 today with capital of 10K.

Trade active: LT now above 1055. Enjoy 1% gains on LT.
Comment: LT now trading at 1072. 2.5% up from the entry price. Trail SL to cost and wait for further up move towards 1100.
Comment: LT closed at days high even in bearish market today. Hold for the targets in few days.
Comment: Trailed my stop loss to 1049.5
Trade closed manually: Trailing SL Hit. Exited with small profit.
Comment: First Target hit in LT.

But I had exited the trade at 1049.5 because as a beginner capital protection is must once trade goes in to your favor.
Trade closed: target reached: All targets reached. Cheers.

Comments

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