A broken trendline is a technical signal that can suggest a change in trend is at hand. If low volume (rather than high volume) accompanies the break of a trendline, the signal is not as strong or convincing. It can make sense to wait a day or two to make sure that the trendline break is legitimate
Script = Larsen and Toubro
Time Frame = 1 day
The FASP for L&T is listed for 11-1-2023 . You can add this levels to your trade setup for better results. This should not be the only indicator but an additional tool to increase your winning possibilities.
What is Fibolysis Anchor SupRes Points(FASP)?
It is a unique level arrived by using Fibonacci Retracement , Fibonacci Extension , Standard Pivot levels...
LT on the daily formed a possible bear trap by closing below the trend line & then showing a v shaped recovery from there. On the hourly it has closed above the downward sloping trend line resistance but it was not a convincing break. There are 2 major supply zones sitting on top of it, the first one is a very small zone which has a less probability of holding...
Chart Patterns suggesting me to go with the above titled opinion !!!
Reasons
1. Dec 21,22,23 daily candles with volumes suggesting the bears entry .(Dec 23rd candle being breakdown candle of trendline from june 2022).
2. Follow up candles on DEC 26,27 show bulls regaining back but LACK OF VOLUMES SHOWS THEIR WEAKNESS!!!
3. Coming to 2hr timeframe, it is...
Weekly & daily chart of Larsen & Toubro is giving me confidence that this counter can do well if market supports. Any pullback towards 1860/1850 zone will be great place to enter with stop loss of 1811 on closing basis. Weekly & Daily RSI, ADX all are in bullish territory and can take this giant upward towards 1990/ 2078 zones. Last time when it happened(hint...
L&T positional set up has been activated. Going long in L&T for a target of 2079 with SL 1895. All levels are marked on the chart.
Disclaimer: This is only for educational purpose. please consult your FA before investing. Happy Trading
After giving a CUP WITH HANDLE Breakout, it formatted a flag pattern consolidation. Today it's gave a Break-out. We can expect 8% UPSIDE with 3.5% DOWNSIDE Risk.
Entry - 2020
SL - 1955
Target 1 - 2075
Target 2 - (2150 - 2180)
NSE:LT
Cup & Handle formation in Chart
Breakout Candidate
Good Buy above 1960
Targets : 2090 - 2476 - 2715
SL : 1800
Upside : ~40%
RSI in Bullish Zone
CMP taking support from Short Term Exp. Moving Avgs
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...
Don't miss the great BUY Opportunity in L&T. In 4HR chart it's rejecting the support zone and probably it'll bounce back to supply zone which is at 1989.95.
Entry: 1855.80
SL: 1805.65
TP: 1989.95
Stock Name - Larsen & Toubro Limited
Ichimoku Cloud Setup :
1). Today's close is above the Conversion Line
2). Future Kumo is Turning Bullish
3). Chikou span is slanting upwards
All these parameters are showing bullishness at Current Market Price
and more bullishness AFTER crossing 1973
#This is not Buy and Sell recommendation to any one. This is for...
Long L&T above 4950. All important levels are marked on the charts. Very good trade setup. The entry point is very crucial. Entry has to be taken only after the BO of Bullish candle with strict SL. Now the stock is crossing the EMA levels of 200 as well as 50 EMA. if the stock can cross both these EMA levels this can become a 5-star trade setup with good risk to...
