AdhigamaTrading

LT bullish ??

Long
NSE:LT   LARSEN & TOUBRO
LT bullish ??

Reasons/Traits :
• Channel pattern breakout seen today
• 1.618 Fib level breakout seen
Bullish since April
• Good strength in RSI and strong uptrend is seen
• Price is making higher highs
• Perfectly following uptrend wave
• 3 times earlier price tried to break the channel, now 4th time trying to break
• Price making higher highs

What can happen next :
Scenario 1 : Price sustaining above 1770 can take the price to 1800/1900/2000/2100
Scenario 2 : Price rejecting 1.618 level can take stock to 1700/1600/1500 levels (1740 level is crucial to determine if stock wants to go down)

Disclaimer : This analysis is only for educational purpose and not be considered as any trading idea/tip. Please consult your financial advisor before you take any trade and we are no way responsible for your profits/losses. Thank you!
Comment: Still in channel did not break ...
Comment: still in channel