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LUX INDUSTRIES LTDLUX INDUSTRIES LTDLUX INDUSTRIES LTD

LUX INDUSTRIES LTD

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LUXIND trade ideas

Lux Industries Ltd (LUXIND) - Potential Double Bottom BreakoutWeekly Chart Analysis Lux Industries Ltd is showing a promising double bottom breakout on the weekly chart. With the confirmation of the pattern and strong bullish momentum, the stock has the potential to reach the mentioned targets. However, it's essential to monitor the RSI and use proper risk management techniques to safeguard against any unexpected market movements. Pattern Formation: Double Bottom: A classic bullish reversal pattern identified with the two equal lows marked as "Double Bottom." This pattern suggests that the downtrend is potentially reversing. Neckline: The resistance level of the double bottom pattern, identified at around 1,733.25. A breakout above this level confirms the pattern. Breakout Confirmation: The stock has successfully broken above the neckline with a significant bullish candle, indicating a potential trend reversal from the previous downtrend. Targets (T1, T2, T3, T4): T1: 2,644.50 T2: 3,929.30 T3: 4,326.80 T4: 4,648.10 Indicators: EMA 10: The stock price is trading above the 10-week EMA (1,731.02), which is a positive sign. RSI 14: The RSI is at 77.18, indicating strong bullish momentum but approaching overbought levels. Risk Management: Stop Loss: Placed below the neckline at around 1,399.25, to protect against false breakouts.
NSE:LUXINDLong
by mdsham1993
Short Term Swing Trading Idea in LUX Industries for > 10% UpsideHi, An bullish on-neck Breakout pattern emerged on the Daily chart of NSE:LUXIND MACD on daily, weekly and monthly time frame is on the bullish side and also expecting the bullish setup to continue. In the current market scenario, I am expecting that the bullish momentum will continue. Complete price projection like entry, stop loss and targets mentioned on the charts for educational purpose. Don't Forget to Follow me to get all the updates. Please share your feedback or any queries on the study. Disclaimer: Please consult your financial advisor before making any investment decision.
NSE:LUXINDLong
by raigvivek
Lux Industries LtdAn Indian Brand. Promoters holding good & no promoters pledged. Reserve is more than Debt. Making double bottom on weekly chart. Demand zone marked as green shaded horizontal area near 1000. Stoploss marked as orange horizontal line. Resistances are marked as red horizontal lines. A small support is marked at 650 as green horizontal line. Levels:- Buy 650 & 1000 Stoploss 500 Swing Tgts 1664 - 2017 Long Term Tgts 3331 - 3842 - 4348 This idea is for Educational purpose and paper trading only. Please consult your financial advisor before investing or making any position. Facts or Data given above may be slightly incorrect. We are not SEBI registered.
NSE:LUXINDLong
by MasterTrader1949X
2
LUXIND LONGThe Elliott Wave Structure refers to the pattern and organization of price movements in financial markets, as described by the Elliott Wave Theory. According to the Elliott Wave analysis, the stock has finished wave (1) and wave (2) on the daily chart. At present, it seems like wave (3) is in progress, with the possibility of extending up to 161.8% of the length of wave (1) from the lowest point of wave (2). Wave (3) is expected to consist of about five subdivisions. The study suggests that wave (i) and (ii) have concluded, indicating the likelihood of additional upward movement. The third wave in Elliott Wave theory is frequently characterized as the most powerful wave. It is the main factor that causes prices in a trending market to move strongly and consistently in the same direction as the trend. Traders and investors frequently seek opportunities to profit from the substantial price increases linked to the third wave. The concept of the Third Wave in Elliott Waves refers to a specific phase within the Elliott Wave Theory. Level of Invalidation The invalidation level at 1111 has been determined as the starting point of wave (1). Should the price drop below this threshold, it could suggest a deviation from the anticipated Elliott Wave pattern. I am not a registered Sebi analyst. My studies are purely for educational purposes. Before trading or investing, please consult with your financial advisor. I am not accountable for your profits or losses in any way. Thanks VJ
NSE:LUXINDLong
by vjdj2004