LTOUF trade ideas
LT | Good for Long | Falling Widge BO |NSE:LT
Cmp : 1611
Entry : Above 1612
Stop Loss: According to one's Risk Reward ratio
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LT : Buying interest emergedLarson & Toubro
1. It is one of the counters that never participated in NIFTY's bounce back.
2. Started showing range expansion after spending a good amount of time in consolidation with low ATR.
3. ADX turned positive.
4. Good to go long on dips around the 1610-1630 zone. SL 1570
5. TGTs are previous highs.
Positional Pick(Larsen and Toubro)The Stock has given a breakout from a falling wedge kind of pattern and also formed a bottom in higher timeframes.
Can be Brought At CMP from targets of 1670(Swings) and 1740(Positional Basis).
Fundamentally, Stock is very strong could be a nice time for investing (Short to medium term).
Larsen & Toubro ( LT )Buy @ 1500 to 1550
Put the stop loss below 1450 on the daily closing basis
Upside target @ 1650 then 1750
Technical:- On the daily chart smart money formed a double bottom chart pattern ( this is a trend reversal pattern ). According to my opinion, what should have been the correction of the five-wave here, has been done. I think this is a good time for accumulating this stock. On the other hand, if you look the stock looks fundamentally and technically valuable at this price level. So my dear investor if you are interested you can buy this stock for 3 months. The risk-reward ratio is also favorable.
Disclaimer:- Dear followers before taking any trade do your own analysis and consult your financial advisor because I'm not a SEBI registered advisor.
Bearish Structure with Bearish Pole and FlagImportant SR levels Update based on volume profile analysis for NSE:LT
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Above is purely my opinion. It doesn't mean that you need to trade accordingly. Please note that I'm not Sebi registered advisor or technical analyst . Trade on your own conviction and please consult your advisor before investing .
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