Ascending Triangle formationAscending Triangle formation as well as Symmetrical Triangle Formation seen in L&T. Also it has been in consolidation since January, 2024. Most Probably it will give a strong Breakout very Soon.
LTO trade ideas
L&T A symmetrical triangle (also known as a “coil”) is a chart pattern commonly observed in technical analysis. Here are the key points:
Formation:
A symmetrical triangle occurs when the price of an asset fluctuates within a narrow range, forming two converging trendlines.
These trendlines connect a series of sequential peaks and troughs.
The upper trendline represents resistance, while the lower trendline represents support.
Shape:
The trendlines in a symmetrical triangle should converge with opposite slopes, creating a narrowing pattern that resembles a triangle.
Unlike other triangle patterns (such as ascending or descending triangles), where one trendline is horizontal, symmetrical triangles have both trendlines sloping toward a center point.
Pause in the Prevailing Trend:
Symmetrical triangles represent a pause in the prevailing trend.
Bulls and bears reach an equilibrium, like two wrestlers momentarily catching their breath before the next move.
Breakout Direction:
Once the price breaks out decisively from the triangle, it often signals either:
The start of a new trend (if it breaks above the upper trendline), or
The continuation of the prior trend (if it breaks below the lower trendline).
The breakout direction tells you which side—bulls or bears—has gained the upper hand.
Trading Insights:
Price Target: Measure the distance between the initial high and low of the earliest part of the pattern. Apply this distance to the breakout or breakdown point.
Example: If the pattern starts with a low at $10 and reaches a high of $15 before narrowing, a breakout from $12 implies a target of $17 ($15 - $10 = $5, then + $12 = $17).
Stop-Loss: Often placed just below the breakout point.
Confirmation: Combine symmetrical triangles with other technical analysis indicators for confirmation.
Remember, symmetrical triangles are like suspenseful pauses in a movie—the actors freeze, and the audience wonders, “What’s next?” So keep an eye on those converging trendlines—they’re plotting the script for the next scene! 🎬📈
LT continues its consolidation phase within the symmetrical triaAs LT continues its consolidation phase within the symmetrical triangle formation, traders should closely monitor the price action around the key levels of resistance at 3700 and support at 3500. A breakout above 3700 could signal a bullish trend, potentially leading to higher targets, while a breakdown below 3500 might indicate further downside risk. Keeping an eye on volume and momentum indicators as the price approaches these boundaries can provide additional insights into the potential direction and strength of the move.
LT is preparing for a big upside moveYou can see the way the price is contracting. The sellers aren't able to make any significant new lows and the buyers are lapping up the stock around the 3475 - 3500 levels.
Once there has been a sufficient squeeze of all shorts, there will be a breakout on LT.
We can anticipate this happening soon.
Stay tuned and track LT in the coming days.
Bullish Channel Breakout: Larsen & Toubro Sustaining Above 3720Details:
Asset: Larsen & Toubro Limited (L&T)
Breakout Level: Sustaining above 3720
Potential Target: Significant upside potential
Stop Loss: Below 3720 or as per risk tolerance
Timeframe: Short to medium-term
Rationale: Larsen & Toubro Limited (L&T) is showing signs of a potential breakout from a channel pattern, with the stock sustaining above the 3720 level. This could indicate a strong bullish momentum, leading to further price appreciation.
Market Analysis:
Technical Breakout: The sustained move above 3720 suggests a potential breakout from the channel pattern, signaling a continuation of the uptrend.
Market Sentiment: Positive sentiment around L&T, possibly driven by strong fundamentals or favorable market conditions, may support this breakout scenario.
Price Target:
The exact target is not specified but is expected to be significant given the potential breakout from the channel pattern.
Risk Management:
Implementing a stop loss strategy below 3720 is essential to manage risk in case of unexpected price reversals.
Timeframe:
The projected move is based on a short to medium-term outlook, with the possibility of reaching new highs if the breakout is confirmed.
Risk-Reward Ratio: Consider individual risk tolerance and adjust position size accordingly to maintain a favorable risk-reward ratio.
As with any investment opportunity, conduct thorough analysis and consider factors such as market trends, company fundamentals, and risk management strategies before making trading decisions.
L&T (Educational Idea)Got Trapped in the marked Levels 3544 to 3600...
Huge call writers in 3600 making this stock to move north..
Expecting soon 3600 call writers unwinding will unlock another 70 to 100 pts
LT looking bullish on 1 hr chartLT looking bullish on 1 hr chart, getting ready for sudden upmove of 100-200 points
LT Elliot wave projections if closes above LTH(3924)If LT is in impulsive Elliott wave 3 shown in gray which will get confirmed if it closes above LTH(3924), and then we can see targets as drawn. difficult to predict exact end point of wave 3 but it can be one of the fib level and for wave 5 the next upper fib level can be considered for now.
Closing above will also form inverted H&S (see shadows in triangle shape) which can open targets near to 4682 (see arrow in purple) and little higher also possible. The possible projections for wave 3 in gray is drawn in the form of wave in green and we might be in wave (ii) of that series.
If it fails to cross the LTH and turns back over the time then we might be still in the correction phase which must end below 04th June low (3176).
** This is not a trade advice, please do your own analysis before taking any trade and keep trailing stop loss.
LARSEN TURBO DOUBLE TOP TGT 3350-3240 04.05.2024Larsen & Toubro Ltd. seems to be an interesting bearish chart with following
1. Inverse Head and Shoulder kind pattern on daily chart
2. RSI on daily crossed below 40
3. Price Crossed below 20 SMA on Weekly chart
4. Negative RSI divergence on weekly chart with price making new highs and RSI making lower highs
5. Can be a good risk reward for short with stop loss above 20 SMA daily and for a TGT of 3350 - 3240
Lets see how it evolves
Disclaimer: NOT A BUY / SELL RECOMMENDATION I am not an expert I just share interesting charts here for educational purpose and not to be taken as buy/sell recommendation. Please seek expert opinion before investing and trading as trading/ investing in market is subject to market risks. I do not hold any position in the stock as on date but I may look to buy on dips with my own Risk Reward matrix.
LT Elliott wave based movements for target of 3900 (LTH)Seems LT is in fresh cycle of Elliott wave impulsive wave on smaller timeframe. I have not seen on bigger timeframe which actually run the flow but looking at smaller cycle seems LT must march towards LTH in the waves I have drawn.
Currently at the time of posting it is just starting the new Elliot wave cycle.
* It is not a trade advise but technical analysis shared based on my understanding of patterns and personal experiences, please take any trade at your own risk.
** The waves must be seen on 1/2 minute chart which I can use to publish - minimum 15 min chart is allowed.
Larsen & Toubro Ltd - Breakout OpportunityDate : 29-Jul-2024
LTP : Rs. 3,774.95
Next Resistances: (1) Rs. 3,919 --> (2) Rs. 4,380
SL : Rs. 3,460 on daily close basis
Technical View:
• NSE:LT is in it's primary uptrend and was recently going through it's secondary downtrend.
• After touching the high of 3,919.90 on 3-Jun-2024, it has retraced 19% to 3,175.05 level.
• On 29-Jul-2024, NSE:LT has broke out from its secondary down trend with higher than average volume.
• NSE:LT is trading above 21 DEMA, 20 DMA and 50 DMA.
• RSI has formed bullish cross over on 26-Jul-2024 and trading at 62.36.
• MACD has formed bullish cross over on 29-Jul-2024 and trading at 19.36. Both RSI and MACD are indicating bullish momentum in coming days.
• Looking strong to start a new swing from here.
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.
Larsen (LT)Trading at lower end of range
Infra play (Budget)
Target - 3900/4100
Sl below 3550
Cmp 3650
LT is waiting for something called BigHello Traders,
There is High Traffic Jam in LT now days. Seems that it could not define the way but something big is planning out there.
Once it has been revealed be prepared for the results. Be cautious there could some accidents can occur too.
Because the accumulation is going on too serious that is results can make a History.
Possibility & higher chances are that it can open the Range for the upside because the strong Rejection from below levels have seen & a very rough hardcore volatility has been seen.
Be Patience
Thank You
Prince
LARSEN & TOUBRO for investmentLARSEN & TOUBRO : CMP: 369.35; RSI: 54.61
Larsen & Toubro is one of the best bet in infrastructure sector to ride the Indian Economy growth. Also company is increasing its footprint in global market and bagged few big ticket size order win in last few years form GCC market.
As per chart analysis, on weekly time frame its, next target is long term (2 years) perspective is 7300++ levels
On Daily Time Frame, script is in consolidation phase, which may last till sept 2024.
For Long Term Investors:
Accumulate below 3300 levels
Near term Support: 3220 ; OR Buy above 4010 level
Target- 1: 4756; Target-2 : 5483
Long term Target (2 years ) - 7300 ++
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L&T INTRADAY ALL SET TO BREAKOUT 8 DAY RANGEL&T is All set to about to break the 3650 levels & once we get the closing above the Level we can plan out for a Trade with the minimal stop loss.
Targets are define on basis of Fibonacci extention
Target 1 is 3700 & Target 2 is 3780.
HAPPY TRADING
PRINCE
Professional Outlook I have made efforts in Explaining How we consider the wave theory
i have explained what is the forecast from here and also
i have explained how you should judge when you see the difference between impulse and Correction
Hope this will give you some idea
if you have any Questions then ask in the comment i will try to answer them
Good luck
LT Long triggerLT gave a Long signal last Friday and I have taken a Long trade. Today morning opening candle has given a further confirmation. I will be holding it to 3745 level which is Prev Month High. This will be Target-1
L&T weekly Update 14/JUN/24HELLO TRADERS.
A very good evening.
As we can see The big infra giant is In consolidation from Last few weeks after a great Rally.
The Giant is Taking rest for Some Time in order to Give the next big move.
As we can see that The giant has entered a BEARISH territory few weeks ago, same has been covered & shifted to the BULLISH ZONE again.
Formed a HH pattern & Bullish Harami Candle has been Formed inclusions of Last week.
Its Not worth taking the Directional Position in this zone.
Let it Accumulate & Close above 3950 levels.
HAPPY TRADING
L&T Weekly update 07/JUN/2024LARSEN & TUBRO infra giants trading in the Range from past few weeks.
BELOW 4100 levels is not good spot for going long.
But the WEEKLY RSI spot the BULLISH HIDDEN DIVERGENCE. Wait for the Pattern creation & Multiple Confirmations.
MONTHLY RSI > 60
WEEKLY RSI < 60
wait for the Weekly closing of RSI above 60 levels. So the trade can be Planned out on DAILY TIMEFRAME.
Seems to be the Breakout to be done with INVERSE HEAD & SHOULDER pattern.
HAPPY TRADING
LT - Positional Short SetupCMP 3658 on 29.04.24
The chart explains the support and resistance areas in recent sessions. According to the scenario, if the stock does not sustain above 3730, may go weak in the next few sessions.
One should sell between 3650-3700. Targets are mentioned on the charts.
This setup fails if the price sustains above 3730-50. One has to plan the position size and the exit plan wisely.
This is only for learning and sharing purposes, not trading advice in any form.
All the best.
LT Long OpportunityWe can go long from current level.
Price is currently at institution buying level.
I am not SEBI registered.
Trade at your Own Risk.
