Larsen & Toubro : +42.90% Upside Potential

17 Nov 2022 11:34hrs Larsen & Toubro CMP 2051

Heavyweight LT, 2 months of consolidation BO with huge volume was seen in the stock in the last week of Oct 2022. Consolidation/RT of BO for 3 weeks has been witnessed.

Summary
- RT & Fresh BO from the VAH zone
- 2 Months of accumulation
- Approaching major resistance place around 2078 levels(ATH)
- Cup & Handle pattern(Awaiting BO)
Conclusion
- CMP 2052
- 3% Test position can be planned at current levels
- Higher targets could be around
o Short Term – 2110-2172-2283
o Mid to Long Term – 2604-2968

Wish You Happy & safe trading

Views are for ‘’EDUCATIONAL PURPOSE ONLY’’ trade at your own risk.

"Always Respect Risk"

Happy Trading
Jai Hind Jai Bharat

Comment:

Target 1 of 2110 Achieved

Comment:

Target 2 of 2172 Achieved