Larson & Toubro
1. It is one of the counters that never participated in NIFTY's bounce back.
2. Started showing range expansion after spending a good amount of time in consolidation with low ATR.
3. ADX turned positive.
4. Good to go long on dips around the 1610-1630 zone. SL 1570
5. TGTs are previous highs.
LT looks set for a breakout, identified with a cup and handle formation- with the ideal buying range between 1900 and 1920.
Short term target of 1984 and long term target of 2230.
Always keep a stop loss at 5-8 percent.
Note: Not a buy or sell recommendation, but a personal analysis for educational purpose.
