Here by I have plotted the long term support and resistance lines for LT. As per my own analysis the stock should correct more towards its support zone of 1303, from there the possibilities of reversal happen up to 1375 short term view as per charts.
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NSE:LT Long at 1335.70 with SL at 1329.10 and three potential targets
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Always risk 1% of account size per trade, adjust the position size accordingly
Larsen and Turbo stock has been in a nice and long uptrend for months now.
The stock now has reached the support zone of this uptrend. Its certainly a nice opportunity to make use of reversal from this support zone and enjoy the 'LONG' ride.
LT may garner some support for the falling nifty and with help of other stocks can help nifty to gain some momentum on the upper areas tomorrow its expiry weekly so need to keep a close check on such good corrected stocks like reliance axis titan maruti m&m pharma stocks
This time the stock is so weak that its trading above 10 days Moving Average that is 115.
For Upside the first target will be 125.45, If it sustain on it then next investor target will be 140,
In case Downside continues then 105 would be an entry level. Exit at 115 .