We have a Bullish Harmonic setup in LT.
Exit the long position with SL of 1348.
Target 1 - 1360
Target 2 - 1365
We can have another setup if LT crosses 1376. I will address it if this pattern gets executed successfully.
Channel down formation on LT at 30mins chart. Indicators are not giving signal for bull.
Trade may active on tomorrow or today (16/11/2016) itself.
May be LT move over sideways until indicators giving bull signal. so keep focus and add in watchlist for next day.
Trade Idea:
Buy above - 1380
Target 1 - 1395
Target 2 - 1408
Stop Loss - 1366
Target 1 points...
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
It is been observed that the price action formed a descending triangle on daily chart and today's price action confirmed the breakout to upside as it reached above the highs of the previous day. It shall now move further up 1500, 1520, 1540 levels.
Target: 1540
Stoploss: 1450
LT is setting up a nice triangle formation on the daily chart.
Price seems to have found support near the 200EMA daily as well. In today's rally, it's made a 3 week high as well. Can it break-out shortly OR will it break down ?
Very interestingly poised for the next few days/weeks.
I'd prefer a break-out here - color me biased :)
in.tradingview.com
L&T is forming a triangle shape in 60 mins chart and it may take few days or a week to complete the triangle.
Note: I am advising to make this stock in watch-list
Trendlines and resistance are the simple tools we have used here in LT and if we get valid bearish confirmation in the zone enter shorts in LT with proper stops, if the price crosses above resistance zone, trade is invalid, No trades.
Happy Trading !
A move past 1470 on spot, can trigger a bigger up move on LT. Price hovering around the Thursday afternoon highs.
If there's a selling candle at these levels, it can be a low-risk short too.
LT one of my favorite scrips, whether its intraday or positional this scrip performs really well (just my opinion,can be different exp for you ). Those who follow me for a while ( 6 months or so ) might be knowing about the Investment analysis we did on LT. We got it somewhere around 1100's I guess, now LT @ 1500's. Great Returns. Flashback over, back to...
Yesterday, the price action closed below the rectangle consolidation range that indicated bearishness and weakness in the stock as marked in previous chart of LT. Today, the price action continues the weakness and downward rally, expected to reach out to 1400 levels that is also previous resistance level.
The price action is been ranging from 1516-1460, about range of 60 points for a while and now I could see a cracking or breaking of it that indicates weakness and bearishness. I would suggest to short for now with a stop loss at 1485. Target: 1400
