tksthathachari

Technical Analysis of L&TFH

Long
NSE:L_TFH   L&T FINANCE HOLDIN
The stock at present is in middle of the formation of a long term flag and pole chart pattern. The long term resistance line was broken and acted as support for the past 6 months. Now at present a triangular flag is forming whose lower support trendline was broken on daily chart . However another horizontal support at around Rs 84 is acting as a good demand zone . In addition, Rs 84 comes around 0.5 Fib levels which is another strong support. Due to this, the breakdown from the lower support trendline of the flag could be a FALSE breakdown.

Suggestion:
Buy at CMP
SL - Below 82
Target - 100

Disclaimer:
This is only for educational purposes and not a buy/sell recommendation. Please consult your financial advisor before taking any decision.
Comment: SL Hit on the Trade

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