Technical view on the chart.
Fundamentally, the entire nbfc sector looks weak currently. L&TFH's peers Edelweiss and JM Fin both look weak. May be market is anticipating liquidity crisis 2.0 caused by DHFL. Or may be some issues with the Micro finance loans owing to farm loan waivers.
Worth keeping in the watchlist for a shorting opportunity around 138-140 for...
Has been falling the past 6 days, with the first green candle today. hasnt broken PDH in the past 7 days, an has also formed consecutive inside bar,
Long if it breaks the high of the previous day with a stop loss at the previous day's low.
Short if it breaks the low of the previous day with a stop loss at the previous day's high.
In case of gap up above the...
Moving In Channel.
At Support Zone.
Break Out Retest.
Other Details Mentioned In Chart.
Positional View For Educational Purpose Only.
Please Consult Your Financial Advisor Before Taking Any Decision.
I am not SEBI Registered Financial Advisor.
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.
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...