L&T formed a flag and Pole Pattern on an hourly chart. The analysis is backed by the increase in the volume of bulls at the time of the formation of the pole and the decrease in the volume of bears in the Flag formation justifying the two most important criteria for Flag and Pole patterns to give a breakout.
Still, it is the stock market so be prepared with arms...
Weekly Investment Idea | Large Cap Stock | Larsen & Toubro Ltd #LT
1) Good weekly close.
2) Inverted Head & Shoulder Breakout.
3) No near term resistance. ATH.
Free Tip #Calculation of Target in INHS type of breakouts:
Target = R1 + (R1-S1) = 1600 + (1600-765) = 2435.
Note: Above values are approx. values. Please refer chart.
Larsen & Toubro
LT could be added to radar.
ADX cross above 25 and good upward move could be expected for a target of 1700-1750 in short time
SL 1640 candle close in daily TF
Add as per your system.
Thankyou
NSE:LT
LT is expected to move 10-15% upward. Gave a proper head and shoulders pattern, also, quarterly results are about to come which would definitely exceed the expectations of the research analysts.
🔴DISCLAIMER
***** It's just for an educational purpose and so you must also follow your own technical analysis before taking up the trade ******
Aggressive traders enter at the breakout and conservative traders may give entry after retracement (Retracement is optional, we cannot expect every stock to take a retest after the breakout, it may also continue to have...
#LARSEN&TOUBRO.Rounding pattern breakout green close above neckline on weekly.On daily it is also forming a W double bottom patter
Which also has broken out.Bullish momentum on all timeframes.ADX also indicating trend is good.
Long entry with tight stop loss at pattern neckline is god trading idea.
Reverse Head and Shoulder pattern formation in Larsen and Toubro in daily chart
Expecting conservative target of Rs 1900 within 1 year.
Rs 1500 to Rs 1550 will act as solid support zone
Do your own analysis before investing.
