L&T weekly Update 14/JUN/24HELLO TRADERS.
A very good evening.
As we can see The big infra giant is In consolidation from Last few weeks after a great Rally.
The Giant is Taking rest for Some Time in order to Give the next big move.
As we can see that The giant has entered a BEARISH territory few weeks ago, same has been covered & shifted to the BULLISH ZONE again.
Formed a HH pattern & Bullish Harami Candle has been Formed inclusions of Last week.
Its Not worth taking the Directional Position in this zone.
Let it Accumulate & Close above 3950 levels.
HAPPY TRADING
Larsenntoubro
L&T Weekly update 07/JUN/2024LARSEN & TUBRO infra giants trading in the Range from past few weeks.
BELOW 4100 levels is not good spot for going long.
But the WEEKLY RSI spot the BULLISH HIDDEN DIVERGENCE. Wait for the Pattern creation & Multiple Confirmations.
MONTHLY RSI > 60
WEEKLY RSI < 60
wait for the Weekly closing of RSI above 60 levels. So the trade can be Planned out on DAILY TIMEFRAME.
Seems to be the Breakout to be done with INVERSE HEAD & SHOULDER pattern.
HAPPY TRADING
LT up move may continue (Analysis 27/10/22)LT stock has given a break out and has crossed 61.8% fibonnaci level on the daily time frame.
The stock was trading around its 20 DMA and consolidated for 10-12 days in a narrow range.
In the last trading session, the stock has given a 2% up move with nice volumes.
The stock has formed a nice price action pattern.
3 points confirmation.
1. Break out of the consolidation.
2. Retest of 20 DMA.
3. Closing above 61.8% fibonnaci levels.
The stock has given a nice up move and the move can continue once the stock crossing 1950.
Target :- 1978-85, 2045
Stop loss :- 1930
Intraday and swing trades can be carried in the stock.
Wait for the price action near the price level before entering the trade.
LT trading in a close range.On daily time frame, the stock is trading just near the resistance level of 1765-75.
The stock has closed just below the resistance level and 20 ema.
Once the level of resistance and 20 ema breaks, the stock can give a good up move.
Wait and watch for the chart pattern to form near the levels.
Support and resistance levels are there in the chart itself.
Larsen & Toubro ( L&T ) Analysis !! 📈 Larsen & Toubro ( L&T ) 📉
This broke out from a Resistance Zone of downtrending Trendline and closed above resistance which was support earlier of 1760-1775 .
On Buy Side I am looking for Targets of 1880, 2000 and 2080.
StopLoss should be kept below 1700-1720zone.
It offers 1:3 Risk To Reward.
All Important Supports and Resistances are drawn in chart. All levels are on closing basis.
Please have a look and revert back if you need some more study on it.
Disclaimer : Consult Your Financial Advisor Before Taking Any Decision On This Analysis.
Head and Shoulder Setup EXPLANATION : This is a 1 hour time frame chart of LARSEN & TOUBRO . It has formed Head and Shoulder pattern , If give a strong breakdown and broke its Demand zone with high volumes and retest the same , I am bearish on LARSEN & TOUBRO . If give a fakeout trade with confirmations . LARSEN & TOUBRO Result on 27 Oct '21 .
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Swing SetupEXPLANATION : This is a 4 hour time frame chart of LARSEN & TOUBRO , It has formed Rising wedge pattern breakout also formed head and shoulder pattern . Ideal entry is breakout and retest of Rising wedge pattern & Right shoulder of head and shoulder pattern . Enter as per your setup .
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Breakout in LTDisclaimer :- This is not any buy or sell recommendation. It is just my view on this counter. Kindly consult with your financial or investment advisor before investing.
On the daily chart of L&T stock has given a fresh breakout on Thursday from upward channel pattern. And it has been retested on it's upper channel band on this Friday and candle has closed above the channel. So, we can expect this bull run will be continued on this counter.
First support level is around 1715. And as per the Fibonacci next upside level is 2057 but this level is so far from here. So, that's why I marked on 1900 and 1975 manually for the first and second target respectively and my third target is 2057.
Thank You :) Happy Trading :) Happy Investing :) Over & Out :)
Larsen & Toubro InfotechLarsen & 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 which means that we might see 4000+ levels again before expiry this month.
The pattern formed on the hourly chart looks like a rounded bottom which is a bullish pattern.
Daily chart does give an impression of a head and shoulder pattern but looks like the downfall should end as 3500 put has good open interest.
***looks like a buy for medium to long term targets of 4000+
LT looking for a Breakout soon ? Go Long above 921 ?Observed that since 12th of June LT was getting very strong resistance around 900 levels as clearly seen in the chart with Red Line.
During past few sessions LT tries multiple times to break it and it does moves till 890-900 zone, but strong buy is seen and it bounces back from there.
Keeping this in mind and the present levels LT looks good for Long trade setup above 921 for targets of 10,20,30,40 points.
In long position assuming that it breaks the Green Trend line as we are entering before crossover so that might be a possible risk.
ALSO,
As we know supports are nothing but just psychological levels which might act or not so in case, in any case if seller get active and tries to break the support zone of 895-900 we will ride along them and enter short position with targets of 10,20,40, 60 + points.
Thanks!