L&T Finance Holding (LTFH)
CMP - 93
Stop - 80 on DCB
T1 - 125
T2 - 200 , Review at 125
Expected Holding Period - 60 trading days or earlier for T1
Ideas being shared only for educational purpose
On Weekly Chart, the share with a support level at 84 bounce back and today it breaks important resistance near 92 which make it a clear way
For Short term
100 rs target with stop loss 84.
For Long term
120 rs target with no stop loss. Time duration 3 to 6 months,
Note: This is for educational purpose only.
There seems to be an unconventional bullish engulfing of last 8 sessions with high volume. This indicates today's price has engulfed the price action of last 8 sessions. RSI above 65 indicates bullish momentum.
L&T Finance Holding is available at good price level i.e. 48-49 - can be bought till 40 levels
buy as per your risk appetite as below 40 levels it has not seen since IPO
NOTE: One should consult their financial advisor before making any decision to buy or sell equities
LT may garner some support for the falling nifty and with help of other stocks can help nifty to gain some momentum on the upper areas tomorrow its expiry weekly so need to keep a close check on such good corrected stocks like reliance axis titan maruti m&m pharma stocks