Larsentoubro
SHORT : Victor Sperandeo 2B Reversal Pattern RSI DivergencePrice formation suggests a short as recommended by Victor Sperandeo in his 2B Pattern. Price closed above the previous high yesterday with good volume but got rejected immediately and closed below to low of yesterday. One can short the stock with reasonable stop loss. Risking the small amount gives an opportunity for a decent Risk to Reward ratio trade. RSI divergence is one more confirmation for the trade.
Disclaimer : All ideas are my personnel view. Please take financial consultancy for trading decision.
LARSEN & TUBRO_Trend AnalysisAs on 16th September 2018, as per fibonacci and trend lines, resistance is 1388.95 and support is 1322.95 in daily time frame. Although the trend is not very clear but if it crosses 1385.50 then it will be in uptrend and if it touches and crosses 1329.70 then it will go in downtrend so trade accordingly. I will update LT in the coming days with the share movement in the next week.