LTTS after giving a huge retracement has started its journey upwards.
It has just given a breakout of Rounding Resistance.
Rsi levels rising too.
Buy : <4200
Target : 5200
SL: close below trendline
L & T TECHNOLOGY SERV
Key highlights: 💡⚡
✅On 1Hour Time Frame Stock Showing Breakout of Ascending triangle Pattern .
✅Strong Bullish Candlestick Form on this timeframe.
✅It can give movement up to the Breakout target of 4500+.
✅Can Go short in this stock by placing a stop loss below 4260-.
As you see on the charts, the stock price is struggling at the crucial resistance zone. If not able to cross and sustain above 4300, may go weak for some time. Possible targets are indicated.
Only for learning and sharing purposes, not a piece of trading advice in any form.
Please share your views about the idea.
All the best.
ENTRY TARGET SL Mention in the chart.
ALWAYS TAKE TRADE WITH CONFIRMATION
Note : Trading in any financial market is very risky. I post ideas for educational purpose only. It is not financial advice. Do not hold us responsible for any potential loss you may incur. Please consult your financial adviser before trading.
LTTS is bullish buy on dips
1. Near Breakout of ascending Triangle on weekly chart
2. Harmonic pattern on weekly chart
3. Walking on upper Bollinger band on weekly
4. Daily / weekly RSI above 60
Buy on dips with TGT 5200- 5400 and SL below 3760
I am not an expert, I just share interesting charts here. Please seek expert opinion before investing and trading...
PROS
Company is almost debt free.
Company has a good return on equity (ROE) track record: 3 Years ROE 23.7%
Company has been maintaining a healthy dividend payout of 38.0%
BUY - L&T TECHNOLOGY SERVICES
CMP - Rs. 4142
Target - 1: Rs. 5068
Target - 2: Rs. 5731
Target - 3: Rs. 6518
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Timeframe - 9-12 months
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Technicals - Bullish Flag Breakout
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This is just a view by an expert analyst, please invest at your own risk.
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In the Weekly Chart of LTTS ,
we can see that; it has created a Hammer candle on Support Trendline.
Enter on breaking its HIGH with LOW as SL.
Hold till 5200.
Key highlights:
- Approaching the daily demand zone
- We have a weekly demand zone just below the daily demand zone
- Can give a positive reaction if buyers turn up
- 200 weekly EMA is coinciding with the daily demand zone
- HTF structure is bullish
- Weekly supply zone at 4850-5300
Disclaimer: This is NOT investment advice. This post is meant for learning...
- Broke out of 77 days long flat consolidation
- Good volumes on the breakout.
- Price is still trading above the high of the BO candle
- Can move higher in the coming weeks, if it manages to push above 4200-4300.
Disclaimer: This is NOT investment advice. This post is meant for learning purposes only. Invest your capital at your own risk.
