LT stock has given a break out and has crossed 61.8% fibonnaci level on the daily time frame.
The stock was trading around its 20 DMA and consolidated for 10-12 days in a narrow range.
In the last trading session, the stock has given a 2% up move with nice volumes.
The stock has formed a nice price action pattern.
3 points confirmation.
1. Break out of the...
NSE:LT
Hi Traders,
LT is taking support on lower band of upward price channel.
If this support is broken by it then it will start downward movement.
If it will reverse and move above previous high then will try to move higher band of upward price channel.
Entry and target level on...
Observed that since 12th of June LT was getting very strong resistance around 900 levels as clearly seen in the chart with Red Line.
During past few sessions LT tries multiple times to break it and it does moves till 890-900 zone, but strong buy is seen and it bounces back from there.
Keeping this in mind and the present levels LT looks good for Long trade setup...
