Akashyadav92

LT looking for a Breakout soon ? Go Long above 921 ?

Long
NSE:LT   LARSEN & TOUBRO
Observed that since 12th of June LT was getting very strong resistance around 900 levels as clearly seen in the chart with Red Line.
During past few sessions LT tries multiple times to break it and it does moves till 890-900 zone, but strong buy is seen and it bounces back from there.

Keeping this in mind and the present levels LT looks good for Long trade setup above 921 for targets of 10,20,30, 40 points.
In long position assuming that it breaks the Green Trend line as we are entering before crossover so that might be a possible risk.

ALSO,

As we know supports are nothing but just psychological levels which might act or not so in case, in any case if seller get active and tries to break the support zone of 895-900 we will ride along them and enter short position with targets of 10,20, 40 , 60 + points.

Thanks!
Trade active: Looks good for Buy
Comment: High of 928 till now
Comment: Target 1 Done ! 921 to 931
Comment: Almost Done Target 2 ! High made 939
Trade active: Target 2 done, high 940.85
Trade closed: target reached: Trailing SL hit after geiving second target of 940 from 920

Comments

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