Bearish ALT BAT pattern formation on L&T Finance Holding and price will fall after the pattern gets fill. This pattern indicates the bearish trend signal.
Short below - 150.30
Target 1 - 148.45
Target 2 - 146.20
Stop Loss - 152.00
Note - Please wait until the price to get fill in the pattern.
It is been observed that the price action indicating weakness due to the formation of two consective bearish candlesticks at the prior resistance levels. It is also indicating price rejection at higher levels.
Target 1: 1700
Target 2: 1680
Fine, though its just basically by trendline break in LT, we should look for risk-reward. Bcos, a decent risk-reward is must even for mediocre tradeplan. Trendline break & entry of shorts in LT can sound mediocre, but the decent risk-reward is icing on cake. Check with your trade plan & enter only if it suits you !
Just take a very good look at charts, there are just simple lines, nothing complex or as magic. It doesn't mean complex strategies won't work.. both of them have their own pro's n cons, All you need to is completely understand what you are doing n following and sail through with that strategy even in times of downfall.
Here we are looking for upside breakout in...
The stock is nicely formed 3 Drive pattern so it may bring halt to the ongoing uptrend. Today's Bearish Engulfing and RSI reading are also confirming the short trade. One can short the stock with appropriate Stop Loss.
NSE:LT is in a downtrend as you can see.
It has given a breakout out of the lines which might just fail.
Short positions can be entered with the pink line as stoploss and blue line below as target.
Channel down formation on LT at 30mins chart. Indicators are not giving signal for bull.
Trade may active on tomorrow or today (16/11/2016) itself.
May be LT move over sideways until indicators giving bull signal. so keep focus and add in watchlist for next day.
Buy above - 1380
Target 1 - 1395
Target 2 - 1408
Stop Loss - 1366
Target 1 points gain...
It is been observed that the price action formed a descending triangle on daily chart and today's price action confirmed the breakout to upside as it reached above the highs of the previous day. It shall now move further up 1500, 1520, 1540 levels.
LT is setting up a nice triangle formation on the daily chart.
Price seems to have found support near the 200EMA daily as well. In today's rally, it's made a 3 week high as well. Can it break-out shortly OR will it break down ?
Very interestingly poised for the next few days/weeks.
I'd prefer a break-out here - color me biased :)
Trendlines and resistance are the simple tools we have used here in LT and if we get valid bearish confirmation in the zone enter shorts in LT with proper stops, if the price crosses above resistance zone, trade is invalid, No trades.
Happy Trading !
LT one of my favorite scrips, whether its intraday or positional this scrip performs really well (just my opinion,can be different exp for you ). Those who follow me for a while ( 6 months or so ) might be knowing about the Investment analysis we did on LT. We got it somewhere around 1100's I guess, now LT @ 1500's. Great Returns. Flashback over, back to...
We have cypher pattern (potential) in LT and the C to D leg is channeling right now. Even in the channeling we have 2 types - outerchannel (white) on current timeframe n innerchannel (red&whitelines which is 5min Intraday). So trade it as normal breakout trade but decide whether it's gonna be 15min or 5min check ur risks before entering the trade....