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.
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)
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PICKING UP MOMENTUM, RALLIED 5%
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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
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HAPPY TARGET OF 107 COMPLETE TODAY FROM 99 LEVELS GAINED GOOD
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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
Trade closed: target reached
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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.
@AMIT-RAJAN Excellent Sir, Very accurate targets, and in very short time.👍🏻
AMIT-RAJAN
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@MounksOfMarket thanks sir for you kind feedback yes really i love this chart and breakout too and reached on target in less time, feel glad that you liked it cheers!! ❤️✌️🙏
TraderRahulPal
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I have booked today my short term trade in it...thanks for posting.
Great!!! I was following this one from the day you published sir, nothing else it was an amazing work on technical analysis right time entries trailing stops and all, read all your updates for this idea it was very confident too thank your for sharing ideas like this 🙏
AMIT-RAJAN
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@SONIA123456 Thanks for like and comment and your feedback too, Glad to know that you following it yes targets are done and dusted for this idea 🙏
yashlohiya2014
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I've been following your ideas since alot of days now sir! it's been great accurate and litrally perfect! hoping to get many more ideas like this! 🙏 Your targets on point👍
AMIT-RAJAN
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@yashlohiya2014 thank you so much for giving a nice feedback, yes it did full target today glad to know that you liked it and give your feedback by comment too ❤️✌️🤝🙏
samarthbhanu80
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Sir from your support I started gaining money from stock market