Buy LT Only if it crosses 1800 level at the end of this month with a good volume improvements for good momentum ahead.
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Happy Trading :)
After spotting clean HEAD AND SHOULDER pattern in an uptrend entered after the retest of the breakout.
Breakout was supported by good rise in daily volume.
EMA 21 acting as a good support.
entry at- 1590
1st target- 1700
2nd target- 1800
Disclaimer :- This is not any buy or sell recommendation. It is just my view on this counter. Kindly consult with your financial or investment advisor before investing.
On the daily chart of L&T stock has given a fresh breakout on Thursday from upward channel pattern. And it has been retested on it's upper channel band on this Friday and candle has closed above...
LT has given a breakout from a wedge pattern
and it has now come to retest the upper trendline
we might be able to see the higher levels if it
sustains above the upper trendline,
entry above 1750 nd we can hold it for 10%
Counter is on verge to complete its impulse phase of elliot wave,, on weekly time frame,,
as per time cycle combination,, time of wave1 and wave 5 are equivalent and price wise also some calculative match are seen
bearish divergence on rsi and macd,, on weekly time frame,, suggest the trend is on verge to mature,,
good fall of 10-15% can be seen in counter
good...
L&T | Decent Cup & Handle visual - Looks good for 20%
CMP : 1500 (Dip : 1460)
SL : 1400
Target : 1750 (calculated based on depth of the Cup and Fibonocci)
Almost 1:3+ risk reward setup
LT on a monthly basis taking multiple resistance at the top of the channel.
If it breaks and sustains above channel top, we can consider for medium term or short term.
Please analyse your self before investing. I’m not a registered analyst.
