Larsen & Toubro is showing a strong bearish RSI divergence on the daily charts. There can be an opportunity to sell the stock in coming trading sessions.
The stock has performed fabulously and good returns has been yeilded by the stock.
If there is a bearish price action, a double top pattern confirmation, good R:R trade can be capture in the stock.
Entry :- Below today's low (4000)
Stop Loss :- 4055
Target :- 3875
A swing trade can be initated in the stock with Target 1 as 3875 and trailing SL for next target upto 3780.
Target 2 can also be made with the help of the 50 EMA.
In case price tries to form a new high is can be shorted only when there is some negative sentiment and price action in the stock.
The stock has performed fabulously and good returns has been yeilded by the stock.
If there is a bearish price action, a double top pattern confirmation, good R:R trade can be capture in the stock.
Entry :- Below today's low (4000)
Stop Loss :- 4055
Target :- 3875
A swing trade can be initated in the stock with Target 1 as 3875 and trailing SL for next target upto 3780.
Target 2 can also be made with the help of the 50 EMA.
In case price tries to form a new high is can be shorted only when there is some negative sentiment and price action in the stock.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.