Larsen & Toubro | LONG | CHART#7Price tried to break the Supply Zone at 995 for about 4 times.
At this point(4th) time, stock is making higher lows with good volume , which clearly indicates a possibility of breakout above 1000 level.
Also (20, 50)MA crossover confirmation
*IMPORTANT LEVELS to WATCH*
LONG Above 1023
SL @ 921
Target1 @ 1198 | Target2 @ 1279
Demand Zone @ 875 | Historical Demand Zone @ 662
Good Luck Investors❗
-GokulHari
Larsen
Swing in LTRSI moved from 40 indicating upmove which is supported by buy signal in MACD.
Price Acttion shows reversal but the movement of 200 EMA suggests that price may face resistance once it reaches that level.
Anyway, it looks good for swing with a price range of 950-960 being the target and stoploss being below the channel.
LT KEY LEVELS SUPPORT AND RESISTANCE 18/06/2020 THURSDAYKey Levels for LT : INTRADAY CHART ANALYSIS
UPPER BREAKOUT~890.25
FIRST TARGET~896.75
INTERIM RESISTANCE~905.35
FINAL RESISTANCE~913.65
LOWER BREAKOUT~880
FIRST TARGET~875.10
INTERIM SUPPORT~869.15
FINAL SUPPORT~860.85
My views are for educational purposes only.
Please trade with caution and consult your financial adviser before trading.
LT KEY LEVELS SUPPORT AND RESISTANCE 15/05/2020Key Levels for LARSEN AND TOUBRO :
UPPER BREAKOUT~881.45
FIRST TARGET~896.85
INTERIM RESISTANCE~909.10
FINAL RESISTANCE~922.95
****************************
LOWER BREAKOUT~861.50
FIRST TARGET~850.75
INTERIM SUPPORT~840
FINAL SUPPORT~829.45
My views are for educational purposes only.
Please trade with caution and consult your financial adviser before trading.
L&T can be bought on dips towards 855-875, target 1030.Infra sector is the latest one to catch the investor's interest.
L&T is among most leading stock in this sector, can be bought on dips.
Safe traders can create positions using bull spreads of 920 and 1020 calls, pay out is about 20 Rs.
Put of 820 can be sold to reduce the payout to 8-9 Rs.
As per y'day closing prices of 920 Ce was 37.8, 940 Ce was Rs. 10, and 820 Pe was Rs. 12.5.
Hold this as long as L&T is above Rs. 850.
L & T looking positive on charts, Buy with a SL of 1302.Please refer to details on chart.
Avoid taking naked long positions, trade using strategies is safe in volatile and expensive markets.
Non cash traders should plan to exit around 1370.
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