LT gave Cup and Handle Breakout after making this structure for 6 months, It has retested the breakout and It is reversing from the resistance which is acting as support now.
once the above level is taken out 1650 we can look for long entry. head and shoulder type pattern breakout now we are looking for a pullback and level to be taken out. we can have a sl below previous base
5 wave Pattern is completed & wave C is Forming ! after It 3 wave Pattern will Be completed .
Level mark comments welcome High and Low range also mark
Breakout given by stock on daily and weekly time frame.
L&T getting ready for 1800 and 2500 ++. Cup and handle formation in progress with increase in volume activity. Trading above 1600 DCB. could fetch 1800 in near term and 2500 ++ long term. SL 1300 WCB.
Inverted Head and shoulde PRICE TARGET 1785 TIME TARGET 28 BARS
Inverted head and shoulders is a bullish pattern
Stock has broken out of of recent highs with volume spikes and now is consolidating now near support level . A long can be initiated for a Risk Reward of 1.5
The details on chart show how the L&T share is showing a Cup & Holder pattern to take a good medium term trade for 13% update from current levels.
LT has given breakout on daily chart with really good volumes, expecting more upside momentum in upcoming days.
RISK REWARD 1:2 KEEP TRAILING STOPLOSS DO YOUR OWN ANALYSIS BEFORE PLACING THE TRADE
L&T has given confirmed broke out of Cup and handle pattern on Friday (16-Jul-21) Although LT has already made small move after the break out,but its still not very late to enter the trade. I spotted this trade only today. It will be great buy if we get this in 1-3% range of CMP (1618 on 16-July-21) Entry - 1618-20 (Current Value or 1-3% above or...
Some Knowledge about MY patterns here : 1) Cup and Handle : Appearance: Looks like a cup profile with the handle on the die right Reversal or consolidation: Short-term (up to 3 months) bullish consolidation Failure rate: 26% Failure rate if waited for a breakout: 10% Average rise 38%, with most likely rise between 10% and 20% Throwbacks 74% Percentage...
12 years channel about to breakout along with inverted head and shoulder gives more attention to bullish dyor take trade only close above the channel happy trading
NSE:LT LT - Inverted Head and Shoulders Pattern / Daily TF / Breakout and retracement done / Good to go LONG