BHUMIT-ARQ
Long

Falling Wedge Breakout For LTTS

NSE:LTTS   L&T TECHNOLOGY SER
64 0 2
Targets : 800-820-845 Buy range : 750-760 Stoploss : 710 Duration : 4-5 weeks

Outlook :
The key observation on the price chart of L&T Technology Services is that the stock has recently registered a breakout above the upper band of the “Falling wedge” like pattern with sharp surge in volumes, encompassing the entire decline since June 2017 high of Rs             .872.50. It signals end of the corrective phase and start of a fresh up leg
During the recent up move, the stock has also moved above its 50-Day SMA , which has acted as a strong resistance during the corrective decline.
During the last 2-3 weeks consolidation the stock is seen taking support at the lower bollinger band thus signalling a good entry point.
Currently, the stock has given a breakout of upper band, as the rule suggest, when stock breaks upper band and stay above it for few trading sessions then it is considered to be bullish for the stock going forward.
Further, “Bullish harami” candlestick pattern was formed by the stock as on 03-07-2017 and A “Three inside up” candlestick pattern was formed on the next following day, which hinted to a trend reversal in the near term for the stock.
Bullish MACD line is already crossed over zero line, stochastic indicator is in buy mode and heading upwards.
We expect the stock to continue its current uptrend and head higher in the coming weeks, hence suggest a “Buy” in this particular stock at CMP or at any dips (price range Rs             .750-760, with the targets of Rs             . 820-845 / Higher and stoploss to be placed just below Rs             .710 on closing basis.
English (IN)
English
English (UK)
Deutsch
Français
Español
Italiano
Polski
Türkçe
Русский
Português
Bahasa Indonesia
Bahasa Melayu
ภาษาไทย
Tiếng Việt
日本語
한국어
简体中文
繁體中文
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out