Larsen & Toubro Limited Shs Sponsored Global Depositary Receipt Repr 1 Sh Reg-S
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Trade ideas
Larsen & Turbo Sept Monthly Expiry Expecting some momentum due to September month expiry closing in larsen & tourbo due to following reason
1) Long wicks currently indicating sellers are in control
2) Shooting star candlestick
3) Inside bar Candlestick pattern (Whichever side it breaks this
will be directional)
4) Since monthly expiry expecting some momentum
(Note: Author is neither responsible for anyone's profit or loss, nor a sebi registered RA, this only for educational purpose. Please do your own due diligence before taking any trades.)
Turning Bullish: L&T (Larsen)L&T has turned bullish by recovering from 3515 levels with good volume.
It has immediate resistance around 3737, followed by 3818 levels.
Support levels are around 3621.
20EMA is above 50EMA confirming the bullish trend.
Long term (one year) target as per experts view: 4396
Larsen & Toubro Ltd (L&T) hourly breakoutLarsen & Toubro Ltd (L&T), the stock is showing signs of a potential breakout from a descending resistance trendline. The price is trading above the 21-hour Exponential Moving Average (EMA), indicating positive short-term momentum. The RSI is at 67.55, suggesting that there is still room for upward movement before entering overbought territory. The recent increase in volume also supports the possibility of a sustained breakout.
As a technical analyst, I would suggest considering a buy at the current levels, with a target towards 3,700 or higher if the breakout sustains. However, given the resistance overhead, traders should maintain caution and set a stop-loss below the EMA or around 3,600 to manage risk effectively.
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.
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.