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.
We have a Bullish Harmonic setup in LT.
Exit the long position with SL of 1348.
Target 1 - 1360
Target 2 - 1365
We can have another setup if LT crosses 1376. I will address it if this pattern gets executed successfully.