Hello friends, As you can see on this weekly chart of L&T finance that price was trading in a Triangle taking support from bottom line and taking resistance from upper trendline of triangle, But on the last session of previous week it gives a Breakout and close above the resistance so now from here the two visible resistance based target are 107 and 117 zones where it can reach probably after this breakout and according to this chart 95.50 is looking a strong support from here if this uptrend will continue from here.
MOVING AVERAGES-: (EMA)
Daily Chart- Price Trading Above 20, 50, 100, 200 Moving Average.
Weekly Chart- Price Trading Above 20, 50, 100, 200 Moving Average.
Monthly Chart- Price Trading Above 20, 50, 100, Moving Average.
RSI-:
Daily Chart- 71.18 (Bullish not Overheated)
Weekly Chart- 64.92 (Bullish not Overheated)
Monthly Chart- 75 (Neutral with Bullish Divergence)
Strengths-:
-: Higher Highs and Higher Lows (After support area shift to new support trendline)
-: Price trading above on all moving averages on Daily, weekly and monthly time frames.
-: Daily and weekly RSI are Bullish and monthly RSI can turn into bullish Probably.
-: Current price 99.65 gained 4.29% in last week.
KINDLY NOTE-: This is not and trade or investment advice. This idea is meant for learning. Invest your capital at your own risk.
Regards-: Amit (AR)
MOVING AVERAGES-: (EMA)
Daily Chart- Price Trading Above 20, 50, 100, 200 Moving Average.
Weekly Chart- Price Trading Above 20, 50, 100, 200 Moving Average.
Monthly Chart- Price Trading Above 20, 50, 100, Moving Average.
RSI-:
Daily Chart- 71.18 (Bullish not Overheated)
Weekly Chart- 64.92 (Bullish not Overheated)
Monthly Chart- 75 (Neutral with Bullish Divergence)
Strengths-:
-: Higher Highs and Higher Lows (After support area shift to new support trendline)
-: Price trading above on all moving averages on Daily, weekly and monthly time frames.
-: Daily and weekly RSI are Bullish and monthly RSI can turn into bullish Probably.
-: Current price 99.65 gained 4.29% in last week.
KINDLY NOTE-: This is not and trade or investment advice. This idea is meant for learning. Invest your capital at your own risk.
Regards-: Amit (AR)
Comment:
PICKING UP MOMENTUM, RALLIED 5%
Comment:
TODAY REACHED 104.70 FROM 99.65 GAINED 5% SO FAR, CAN DO TARGET 1 IN THIS WEEK OR WE CAN SEE MONTHLY BREAKOUT TOO TOMORROW.
Trade closed: target reached:
HAPPY TARGET OF 107 COMPLETE TODAY FROM 99 LEVELS GAINED GOOD
Comment:
STOP LOSS UPDATE-:
WANT TO GO FOR SECOND TARGET SO NOW TAKING A STOP LOSS BELOW FIRST TARGET OF 107 HOPE THIS TIME 107 WILL ACT AS A STRONG SUPPORT FOR IT, FROM ENTRY PRICE OF 99 GAINED 13% SO FAR. IF TRAILING STOP LOSS WILL HIT EVEN THEN WILL GET 6-7% FROM ENTRY SO NOW LOOKING VERY FAVOURABLE RISK TO REWARD. CMP 112.20
WANT TO GO FOR SECOND TARGET SO NOW TAKING A STOP LOSS BELOW FIRST TARGET OF 107 HOPE THIS TIME 107 WILL ACT AS A STRONG SUPPORT FOR IT, FROM ENTRY PRICE OF 99 GAINED 13% SO FAR. IF TRAILING STOP LOSS WILL HIT EVEN THEN WILL GET 6-7% FROM ENTRY SO NOW LOOKING VERY FAVOURABLE RISK TO REWARD. CMP 112.20
Trade closed: target reached:
TAGET TWO ALSO ACHIVED TODAY GAINED 20%, STILL LOOING MORE UPSIDE AND RETEST PROBABILITY WILL PUBLISH NEW IDEA ON THIS, FINAL UPDATE FOR THIS NOW.
