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Can sell L&T with SL as 1390
Technically L&T is a buy for positional trade with SL as 1225.
It has been observed that the price action breaking above previous resistance zone of 1250 levels indicating strong buyers coming back and taking price action further up and above the resistance zone.
LT is trading near its strong support of 1130-1120... buy between 1130-1140.. keep stoploss of 1110 on closing basis..
immediate target is 1170.. if it stays above 1170 convincingly with rise in volumes, then hold it tight for targets above 1200...
LT is currently trading near its strong support level of 1130... immediate target is 1170.. if it sustains above 1170 convincingly with increase in volumes, then hold it tight for targets above 1200...
LT-Resistance around 1133-35 and keep sl above 1150
break below 1105 can bring downside of 1075- -1050 or more toward 1025
intraday level can be seen 1090-88 and ,200 MA level of 1062-65 can be taken in view
It is been observed that the price action indicating weakness due to the formation of two consective bearish candlesticks at the prior resistance levels. It is also indicating price rejection at higher levels.
Target 1: 1700
Target 2: 1680
It's all about resistance and support points.
LNT looking bullish above 1510 with sl of 1462 for tgt of 1690/1700
nifty and lt compare chart show gap
lt has taken support on trend line and correct up to 50% fib level
if it give monthly close above 1480 trigger buy
i think Larsen and turbo seems to be bullish because of the descending triangle breakout
and it sems to be yhat expanding bolinger bands can se higher volatility
After consolidating for two days on a range, today it breaks out from the same range and now targeting to next support levels at around 1460. Good time to short with Stoploss of 1515