Technicaltrader
L&T Multi-year BreakoutConsolidating in expanding channel pattern since 2009. Is finally giving breakout after more than 1 decade. Fundamentally strong company and giving technical breakout. The risk: reward is very favourable of 4:1. This is a mid-term trade with approx. 9-10 months but can deliver 100% from current market price.
The are good number of support and resistance points with beautiful pattern. Waiting for October candle to close above the resistance line and the stock is ready to fly high
INDIGO CHART ANALYSISHello Everyone,
Happy Sunday! Hope you all are ready for tomorrow :)
As we all know, the lockdown is extended till 17th May 2020, and this is going to put all the plans on hold for aviation sector. Additionally, looking at the Indigo chart pattern, I find it bearish as it isn't breaking 1080 target from long time now.
Here are my targets:
If it breaks 981 below, then go for 950 as the first target
If it continues to break 950 then go for long 915
My third target would be 885, if it breaks 915 too
I'm sure, tomorrow we'll see selling coming in Indigo and tomorrow itself, we can see the target hitting of 915.
Thanks,
Akshay