Looks like a flag formation in L&T FINANCE..........POLE IS 24-25 POINTS IN SIZE..........SO TARGET WILL BE 130+25=155
TRADE ONLY AFTER TUESDAY.......IT HAS A STRONG SUPPORT AT 130 LEVELS AND BUYING IS SEEN AT 130 LEVELS. AFTER ELECTIONS IF RESULTS ARE NEGATIVE AND IT HOLDS 130 LEVELS YOU CAN BUY IT WITH SL OF 128 TARGE OF 155.........IF RESULTS ARE POSITIVE FOR ...
A down side breakout from the rising wedge will be ideal trigger to open a short, once it fails to hold 130 range we might see it resting lower levels, will try to update the chart in my free telegram channel as the trade develops.
Do share your opinion in the comments.
Downward channel: downfall to continue., given the turmoil in the NBFC space
Interestingly, on Sep 25 the volume was high & the stock closed in green, depicts interest amongst investors, where the stock closed at 131.
Stock is at a level where major support and short term support both meet with golden ratio Fibonacci. In a bull market this stock would now be accumulated and would take off anytime. Buy here and expect good returns for long-term also