Bears have got sandwiched between 2 bullish candles. Today's candle is bullish harami. Tomorrow's candle close above bearish candle will wipe out sellers. Disc : it's not an investment advice to buy or sell
LT LOOKS GOOD FOR TOMORROW ! WAIT FOR CLOSING/RETEST ABOVE SUPPORT/RESISTANCE. IF OPEN BIG GAP UP/DOWN THEN AVOID OR TRADE ACCORDING TO PRICE ACTION ! FOLLOW FOR DAILY ANALYSIS
All levels are mentioned on the chart. DISC: For educational purposes only.
Thought Process - Price has rejected multiple time from its resistance level of 1900 (at which there is a massive open interest of Call Writers), one it holds 1900 levels there can be a good breakout leading the price to its next round level of 2k. Trade Plan - 50% positions can be initiated now with SL of 50EMA on a closing basis & next 50% when it holds 1900 levels.
Enter now as a power candle has entered the game, lower triangle breakout = done on supports with volume and biggest candle since budget day.... risk is of 3% on capital.... earnings are near .... anticipatory red dots trendline breakout means will retest the ATH lvls, intraday basis seems good for 3% more till the bigger trend line that is 1:1 rr,,, if broken in...
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...
LT can show a good bullishness once if it breaks the trendline and start moving upside. Currently in an accumulation phase. A good return can be expected from here. (for educational purpose only)
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)
LT is forming a falling wedge pattern which is a Trend continuation pattern. As LT is sustaining below 200 EMA it indicates that stock is in downtrend and falling wedge formation gives strong setup for shorting stock in intraday basis. Look for the open of market if the range or wedge is broken down go for short trade. This is just my view. Trade at your own...
LARSEN & TOUBRO TECHNICAL VIEW showing a BEARISH trend, But Fundamentally it's cheap stock to BUY for the long term. 1607 STRONG RESISTANCE. 1334 STRONG SUPPORT.
Buy in dip around 1300 stop loss 1140 target 1800+ Disc : it's not an investment advice to buy or sell