52w breakout with strong volumes
keep sl 6750
target 8000
Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial adviser before taking any trade.
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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L&T infotech : double bottom breakout in progress. Momentum and trend bullish on all timeframes .
latest daily candle is open = low bullish pattern and likely to trend up.
stop loss could be close below breakout neckline. trailing could be done on daily trendline breach and close also could be indication
for short swing trades.
DISCRIPTION
LTI after making double bottom is moving towards all time high (ATH). It has broken the trendline clone as well as 0.786 fib-level. If the momentum is strong in Nifty IT ,LTI can easily break the ATH and another sharp bull run might be observed.
EXPECTATIONS
1)Breakout from Trend 1 clone
2)Breakout from 4500 level
RESULT
If the expectations are met...
