LTI is nearing its support. As seen in the chart, the confluence of 3 supports can be observed. 1) 200 EMA, 2) Trend Line, 3) The horizontal support.
These support zones can attract buyers. One can expect to see minimum levels of 4200+ by the end of May. View negated below 3800. Personally buying 4000 CE at 132 with SL of 100 and open target.
Date: 03 May 2021
It is on the way of forming Inverted H&S pattern. First it has to reach 4,550 level which will give 14% upside. and then once the pattern is complete expect the final target at 5,530 which will give another 21.5% above 4,550 level. So total upside is 35% which seems possible in LTI.
We will review the stock when it will complete...
LTI is displaying good strength and is doing a breakout on the cup pattern even in a weak Market
The breakout is over the previously know recent highs and is supported on both Monthly and Daily Timeframe
it would make a good case above 3600 with Technical SL would be @ 3500 Levels about 2.5% from here
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