L&T Finance Ltd - Breakout OpportunityDate : 23-Sep-2024
LTP : Rs. 184.52
Resistance Levels: (R1) Rs. 194 --> (R2) Rs. 215
Support Levels: (S1) Rs. 163 --> (S2) Rs. 159
Technical View:
• NSE:LTF is in strong primary uptrend and was recently going through it's secondary downtrend within primary uptrend.
• After touching the high of 194.25 on 2-Jul-2024, it has retraced 18% to 159.50 level.
• NSE:LTF has breakout from it's secondary downtrend with higher than average volume. Breakout is also supported by increased volume in last few sessions.
• NSE:LTF is trading above both 20 DMA and 50 DMA since last few sessions. 20 DMA has crossed over 50 DMA on 23-Sep-2024.
• RSI is trading at 65.73. MACD is trading at 2.63. Both MACD and RSI is showing positive momentum.
• Looking good for a new swing from here.
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Disclaimer : I am not a SEBI registered analyst/consultant and not recommending anyone to take any BUY or SELL position in stock market. Investing in stock market is risky and one should do a self analysis and validation before investing in stock market. My ideas are published for learning purpose only and are available to everyone at no cost/charge.
