Larsen & Toubro Infotech
LTP: 3665.45
Support: 3593.30
Resistance: 3780.00
Most important level with highest Open Interest
3500pe - 25950 (major support)
4000ce - 50850 (major resistance)
The price is very close to an important level, 3593.30. The candles have taken support at the mentioned levels multiple times since December 2020.
RSI is in the oversold range...
A double bottom pattern has been spotted on LT chart.
One can go long from here with strict swing low SL or can wait for some retracement to happen.
(for educational purpose only)
Please have an look on my previous publish idea about LT. LT test the Long term Target of 1600 & now accumulating. those want a fresh entry can accumulate at that level. Previous idea link attached for analysis.
Note: For knowledge Sharing only. don't trade on someone idea do your own analysis before trading & Investing.
NSE:LT
if l&t cross 1383 then it can touch 1400+. keep sl as per your risk appetite.
******whatever charts or levels sharing here are just for educational purpose only not a recommendation. please do your own analysis before taking any trade on them. we are not SEBI registered.
Larsen & Tubro looking bullish on the chart, facing multi time resistance, if Resistance Broken , can move higher (Targets Mentioned: Short , Medium, Long ). dont trade on advice, do your own research before trading & Investing.
Price 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...
Note: This is for educational purpose only.
Post a range bound movement, there seems to be a bullish breakout with high volume. Moreover, RSI is at 70 which is on overbought zone. Hence, expecting some sideways movement post next upmove.
Larsen & Toubro is a fundamentally very strong company. One of the best company in the technology sector. Valuations are also reasonable. Haven't participated in a rally yet. Likely to rally in the coming weeks.Short term target of 1000 & Long term Target of 1200.
RSI 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.
Larsen & Toubro today posted very bad results with 79% slumps in business and also stock looks heavy selling due to pressure. one can accumulate for short position with target 850/ & 800/- with stop loss 940/-
In 1 hour chart we can clearly see breakout in Larsen & Toubro. We can confirm our breakout in Aroon Indicator, MACD has also generated a positive crossover. Take long positions guys we will definitely achieve our target.
