We are looking at a huge breakout in Nifty Tomorrow as shown by SGX Nifty.
Now I am hoping we will get a breakout on LT as well.
And if LT sustains above 1510 for couple of days then we can look to get the targets of 1600/1650.
As of now am Neutral.
L&T at Rs 1493 is a splendid large-cap well underpriced.
Scrip has bottomed out and crossed all EMAs and resting with consolidation on 20D EMA.
All other EMAs have crossed favourably and are in order.
Volumes are good and indicative of a bullish rise soon.
Company's order book position and profit margins have improved.
It is one of the very few infra-structure...
lt has been in sideways after rising from 1300 levels to 1500.
it has been observed it is forming a PENNANT PATTERN on daily chart ,one might go long in this heavyweight for target of 1550 level as risk reward is favorable ( sl 1460 for day traders).
sideways after breaking a triangle on weekly chart suggest a big move ahead
NSE:LT is in a downtrend as you can see.
It has given a breakout out of the lines which might just fail.
Short positions can be entered with the pink line as stoploss and blue line below as target.