A shooting star occurs after an advance and indicates the price could start falling.
The formation is bearish because the price tried to rise significantly during the day, but then the sellers took over and pushed the price back down toward the open.
Traders typically wait to see what the next candle (period) does following a shooting star . If...
LT has given a breakout from rising wedge pattern.
However, today's candle is an inverted hammer which might be a sign of reversal and hence, it is a wait and watch scenario.
One can enter if there is a retest and continuation of uptrend from 2250-2300 levels
Larsen spot cmp 2355
Weekly time frame
Elliot wave study
Motive phase on verge to mature.
Ascending wedge pattern formation
Counter is trading in overbought zone as per swing indicator and structure formation.
Bearish divergence on RSI with respect to price.
Time for bulls to sit on cash.
Stock Name - Larsen & Toubro Limited
Ichimoku Cloud Setup :
1). Today's close is above the Conversion Line
2). Future Kumo is Turning Bullish
3). Chikou span is slanting upwards
All these parameters are showing bullishness at Current Market Price
and more bullishness AFTER crossing 2369
#This is not Buy and Sell recommendation to any one. This is for...
A Symmetrical Triangle Pattern seen under formation on charts of LT. Symmetrical Triangle Pattern is a continuation pattern and formed in either an up trend or down trend. During the up or down trend a symmetrical triangle forms as a part of consolidation with higher lows and lower high pattern. One should wait for completion of the Pattern at the narrow end, and...
Good charts
Ready to make new highs
Target 2300/2330 after 2330 more up move can be seen
Stop loss 2252
I am just representing my views.
For educational purpose only.
Stock Breakout of Symmetrical triangular pattern & then retested the BO region....now ready to make new highs...
ONLY FOR EDUCATIONAL PURPOSE....KINDLY DO YOUR OWN RESEARCH
End of impulse . A small bull run is pending.
Once the bull run have completed then correction is gonna take place. Wait and watch the pattern formation.
I’m not a SEBI advisor. This is only for education purposes only.
I share my knowledge.
For TV 1234................ ENJOY UR RIDE........ Be Patient...... If your into it for the LONG HAUL...... STOP LOOKING at it on a DAILY basis. I havent marked the waves..... YOU decide whats to happen next !!!!!
Accumulation zone -
Factors
1) Volume is more than average 4 times
2) Buy volume is max in this rage
3) histogram is positive
4) positive result from last 3 quarters result ( more than expected)
5) more Central Gov projects lined up for next fy year
6) 24 * mutual fund is positive for the following PE result
All-time new high will make
con
1)- 2 mutual fund...
LT weekly closing tomorrow, can possibly be highest every weekly closing. Other price action related aspect which are my observation on this chart are explained in it.
Overall looks very strong on charts
