With some FUNDAMENTAL weakness (like decline in net profit, profit margin & net cash flow), L&T stock is in BEARISH mode.
Hence call for SHORT, all details regarding entry price, SL, targets etc are mentioned on chart.
Weekly time frame gives an indication on Possible Support line in coming days/ weeks if it falls.
=========== WEEKLY CHART (for possible support & resistance levels)=========
Note: Since it has it has already retraced to 1st target of H&S (i.e. fall by right shoulder level from neckline) hence there is POSSIBILITY of TREND REVERSAL. Hence in that case, you may chose the LONG option. All details are mentioned on chart.
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Stay safe,stay healthy
Hence call for SHORT, all details regarding entry price, SL, targets etc are mentioned on chart.
Weekly time frame gives an indication on Possible Support line in coming days/ weeks if it falls.
=========== WEEKLY CHART (for possible support & resistance levels)=========
Note: Since it has it has already retraced to 1st target of H&S (i.e. fall by right shoulder level from neckline) hence there is POSSIBILITY of TREND REVERSAL. Hence in that case, you may chose the LONG option. All details are mentioned on chart.
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Stay safe,stay healthy
Trade active:
Today, it was expected to take falling trend and very unlikely for upward movement. I have suggested to go for SHORT with SL 825. At multiple times it hit the SL BUT FAILED TO BREAK THE LONG ENTRY PRICE which was Rs. 830.
I am still expecting it to take falling trend and you may enter the SHORT trade with SL as per your risk absorbing capacity. But please ensure that SL should not be more than 830. It may take reversal trend (upward) if this price breaks.
I am still expecting it to take falling trend and you may enter the SHORT trade with SL as per your risk absorbing capacity. But please ensure that SL should not be more than 830. It may take reversal trend (upward) if this price breaks.