"W" SHAPE FORMED AT THE LOWER LEVEL. THE NECK LINE AT 1365 WAS CROSSED. THE PRICE HAD REACTED AFTER REACHING 1380.
AGAIN, THE SHARE PRICE WILL TRY TO CROSS 1380 AND REACH 1400.
IF IT TRADES ABOVE 1400, THEN 1450 IS THE NEXT TARGET.
Here by I have plotted the long term support and resistance lines for LT. As per my own analysis the stock should correct more towards its support zone of 1303, from there the possibilities of reversal happen up to 1375 short term view as per charts.
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NSE:LT Long at 1335.70 with SL at 1329.10 and three potential targets
Please Consult Your Financial Advisor Before Taking Any Decision
Always risk 1% of account size per trade, adjust the position size accordingly
NSE:LT LT Long @ Rs. 1300 or below
Entery Below 1300
Target = 1462
LT is trading in Demand zone , nothing too much to lose , one can go long till aug expiry
for the target of Rs, 1462. on the options data unwinding of calls seen which also indicate
for the upward movement of price. LT call of Rs 1300 can be buy at Rs 16-18 with minimum risk
L & T IS NEARING SUPPORT AT 1275.
ONE MAY GO LONG WITH A TARGET OF 1336 IN THE COMING DAYS.
STOP LOSS MAY BE KEPT AT 1265 LVL.
IF ONE IS RISK AVERSE, THEN WAIT FOR TRADING ABOVE 1300 FOR ABOVE SAID TARGET LEVEL.
Larsen and Turbo has been in a nice and long uptrend for the last few years.
This stock has now approached this strong multi-year support zone with a lovely little Doji. Love the tension in the market at this point.
Do you think the stock will Reverse at this strong support zone or break it ? We will know it very soon.
Use your analysis skills and pick a direction!