LT up move may continue (Analysis 27/10/22)

LT stock has given a break out and has crossed 61.8% fibonnaci level on the daily time frame.

The stock was trading around its 20 DMA and consolidated for 10-12 days in a narrow range.

In the last trading session, the stock has given a 2% up move with nice volumes.

The stock has formed a nice price action pattern.

3 points confirmation.

1. Break out of the consolidation.
2. Retest of 20 DMA.
3. Closing above 61.8% fibonnaci levels.

The stock has given a nice up move and the move can continue once the stock crossing 1950.

Target :- 1978-85, 2045
Stop loss :- 1930

Intraday and swing trades can be carried in the stock.

Wait for the price action near the price level before entering the trade.


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