TheKV

LT chart analysis for 5TH MAR 2021 [Instructions below]

NSE:LT   LARSEN & TOUBRO
READ THIS: Less than 05% of the analysis has failed so far. I am posting 10 a day. You can check the history.
1. Check the levels and analysis.
2. If you are new, trade in low quantity or trade with virtual currency.
3. Don't trade immediately on a breakout or a breakdown. Let the price retest the level. Then let it give a confirmation candle. Only then trade.
If the conditions are not fulfilled, it is not a breakout. It is a fakeout.
3. If (or when) the stock moves 25% to 50% in our direction, start booking partial profits. This is very important as the stocks, a lot of times, show a reversal.
3. After the day ends, come back and play back the candlesticks , if you haven't traded. Check if the levels hold.
4. Hit that like button and comment if you find the analysis is holding.

Comments

You still think this will go down or might actually move up ?
Reply
TheKV amit.medhekar
@amit.medhekar, if it breaks the level above, then yes. There are chances. But I hope you are booking partial profits as per the instructions shared above. If you are then you should be sitting in good green as LT has given a good move downside after breaking the level shared above. You can also consider a long if it breaks, retests and sustains the level above. Cheers!
Reply
@TheKV, Yup, thx !!!
Reply
TheKV amit.medhekar
@amit.medhekar, After the initial breakdown, did not break the levels. Consolidated in between the levels only.
Reply
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