Last week the price moved up from a brief consolidation. Watch for price action between 92 and 95. Above 95, can see price go up to 101. And if the momentum continues, 113 is achievable in good time.
80, 72 and 66 can act as good support zones.
Note: Always define stop loss in your trade, usually 5-8%.
Long time Trendlines break in LT Finance and seems to be a Bearish Bat formation in play (Harmonics), can be a good investment bet for 6months to 1year.
Can go bullish if 66 price level not broken. as per understanding about Elliott wave Theory, LTFH is in correction Intermediate wave ABC in larger TF, but bullish in daily TF or Minor wave C . one can go long till fibo ratio 1 /1.272, which can be Tr-1 = 154 , Tr-2 = 201. be cautious, good luck. Happy Trading.
📈 L&T Finance Holding 📉
Today broke out from a Resistance Zone after testing three times and also broke out from a downtrending Trendline Zone which is coming from all time high, It means it has come out from larger bear trend however a major swing yet to crossed on closing basis.
Long time frame chart is attached below at end.
On Buy Side I am looking for...
this stock weekly breakout for ready or not,;
nearby trading in 200 dma and weekly trendline
retracement completed 58-60 ;
big stoploss 50, swing stoploss 73,
buy above 200dma;
target 112-124
use for reference only
caution: this stock technical analysis only ,not a fundamental,
Channel breakout + Retest Done + 50% Fib retracement tested + RSI @ 56 = Good buy with a great R:R .
Don't buy asap ; wait for some duration as market has gone up without making a red day, so have patience and buy when price comes near buying zone.
Target 1 and 2 are easily achievable but Target 3 is a little hard so book 60% till tgt 2 and let the profits run...
1. Falling Channel Break Out with Huge Volume.
2. Major action ONLY when stock manages to close above 90.
3. Further Targets: 96/101/113+
4. SL below 82 DCB (Safe SL) or 79 (Risky SL)
5. Trade advised ONLY in cash. Consult your financial adviser before investing.
6. Do Like, Share and Comment!
currently the stock is Uptrend in houly
Making HH & Hls
Bounced recently from previous swing high of 79-80 area
Making it a Resistance turned support
Risk to reward is excellent
With a Sl just below 79 can expect a tgt of 89 and then 94 in coming times
L_TFH - Long Buildup Candidate
Buy-80-85
Sl-75
Target- 100 110 130+
It is good long candidate for short and mid term traders. The stock has bounced exact from our Half Bat pattern PRZ area.The trendline support is very important as it is holding the stock in the uptrend.
So, L&TFH is in rangebound from so many previous day.
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Now the point where stock can break or reverse, stock is making higher high and higher low from 13th of July.
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If Stock break the level of 95.70 then we can see the target between 100-110.
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You can take the position in this trade at the level of 96.
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What's your view on this comment below in the box.
L&T Fin holdings has broken above a falling trend line after bouncing off a previous support level.
Buy: L&T Fin Holdings
CMP: 97.50
Target: 110
Stop Loss: 93
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,
Lets drill down to weekly time frame
Price gave a pullback and trying to move in a channel
EMAs acting as support
200Day EMA may act as a resistance for time being
we need a weekly close above 95.35 or 96 so that the stock can move up freely
levels are marked in the chart for positional targets
RSI divergence on Weekly time can be observed along with the same...
