Larsen & Toubro Limited Shs Sponsored Global Depositary Receipt Repr 1 Sh Reg-S
No trades
Trade ideas
Bullish rejection in LT The stock Larsen & Toubro (NSE: LT) has made a series of bullish rejection candles characterized by distinguishable upper wicks for the last 5-6 candles. This is coupled with the fact that the stock is trading at the top end of its 20DMA-Bollinger Band.
We consider these wicks a bearish sign and are of the opinion that the stock can fall from here and touch its 20 DMA (Bollinger Band mid-zone) at 1865 in coming days. Bearish view is negated if stock crosses the wick high of 1982.
LT loooongLT looking really good for long. Trading in a channel and an uptrend from a long time, recently gave a breakout and now taking a breather before continuing the rally. Volumes are also intimidating. Holding the ground beautifully. Have already a long position, will pyramid as it breaks this 2-3 range. Also good stock for long term.
Goodluck:)
LT bullish ??LT bullish ??
Reasons/Traits :
• Channel pattern breakout seen today
• 1.618 Fib level breakout seen
• Bullish since April
• Good strength in RSI and strong uptrend is seen
• Price is making higher highs
• Perfectly following uptrend wave
• 3 times earlier price tried to break the channel, now 4th time trying to break
• Price making higher highs
What can happen next :
Scenario 1 : Price sustaining above 1770 can take the price to 1800/1900/2000/2100
Scenario 2 : Price rejecting 1.618 level can take stock to 1700/1600/1500 levels (1740 level is crucial to determine if stock wants to go down)
Disclaimer : This analysis is only for educational purpose and not be considered as any trading idea/tip. Please consult your financial advisor before you take any trade and we are no way responsible for your profits/losses. Thank you!
[ INTRADAY ] LT LONG BETrisk: Reward ratio is 1: 2
Rest as per Charts
********
Note -
One of the best forms of Price Action is to not try to predict at all. Instead of that, ACT on the price. So, this chart tells “where” to act in “what direction. Unless it triggers, like, let’s say the candle doesn’t break the level which says “Buy/Sell if it breaks”, You should not buy/sell at all.
=======
I use shorthands for my trades.
“Positional” - means You can carry these positions and I do not see sharp volatility ahead.
“Intraday” -means You must close this position at any cost by the end of the day.
=======
Always follow a stop loss.
In the case of Intraday trades, it is mostly the “Low/High of the Candle”.
In the case of Positional trades, it is mostly the previous swings
********
LT : Ready to Breakout above 1920Larsen & Toubro Ltd. is ready to breakout and move upwards if it retains 1920 on closing basis.
On Daily Chart it is both (Adaptive Relative Strength)ARS & Static Relative Strength(SRS) Positive.
Relative Strength setup as per @premalparekh #RSWarriors
Note: It is not a trade ideal. Just for educational purpose.
Consult your financial advisor before entering into trade.
#LT Long Swing Trade OpportunityOn the charts, there is a huge volume price-volume breakout from the retracement trendline.
For my entry at 1894 with an SL of 1800 - which is 5% of my buy price - I'm anticipating prices to attain a target of 2094.
It is a 1:2 R:R trade.
The caveat emptor principle applies here, as it does in every trade. Stick to your principles and rules.
Best of luck!
Breakout In LARSEN & TOUBROA Range Breakout on WEEKLY and DAILY Timeframe can be seen in LARSEN & TOUBRO. Would suggest to go Long or make long Position at CMP or also can enter in that zone if it doesn't close below the zone on weekly timeframe. Can be a good positional trade for the target of level 1885 or you can also consider latest dip as a upside target with strict stop-loss of 1511 level OR you can also consider given zone as a stop-loss if breaks and closes below the zone in weekly timeframe at 1585 level (only on closing below basis on weekly timeframe). And if manages to close above the given zone of 1586-1607 in MONTHLY TIMEFRAME chart it'll be considered as a MULTIYEAR BREAKOUT, Will update Target if SO happens.
THIS VIEW OF MINE IS PURELY BASED ON TECHNICAL CHART, BEWARE OF NEWS AND OTHER FACTORS WHICH CAN AFFECT THE MARKET SENTIMENT.