LTOUF trade ideas
L&T Channel Pattern After analyzing LT's stock, there are indications that a potential breakout may occur in the near future. Several factors suggest that the stock's price could experience a significant movement.
However, it's important to note that stock market investments come with inherent risks, and predicting breakouts or price movements accurately is challenging. It's advisable to consult with a financial advisor or conduct further research to validate the analysis and make informed investment decisions.
LT BULLISH PENNANT VERGE OF BREAKOUT ??!!! Chart pattern looks good for the long trade with minimal risk
Bullish pole pennant formation yet to give Breakout
Nothing much to explain, As the chart explains the situation
Bright green dashed lines- Target levels
Bright red dashed line- SL
Entry can be now or after the Breakout of the pennant.
Let's wait and watch how it moves!!!
NOTE - Just sharing my view...not a tip nor advice!!!
LnT - Triangle Pattern - 3% upside potentialLnT has formed triangle pattern.
Final leg of triangle is around 2365-2370 levels. Good risk reward from this level, if moves upside.
SL: 15 mins candle close below 2360 levels.
Target: 2400 then 2460+
Note: Today results may be our during market hrs, so can be volatile, should maintain strict SL in system. or safe to take trade once it moves above 2400 levels.
Shooting Star A shooting star occurs after an advance and indicates the price could start falling.
The formation is bearish because the price tried to rise significantly during the day, but then the sellers took over and pushed the price back down toward the open.
Traders typically wait to see what the next candle (period) does following a shooting star . If the price declines during the next period they may sell or short.
If the price rises after a shooting star , the formation may have been a false signal or the candle is marking a potential resistance area around the price range of the candle.
Script = L&T
Time Frame = 1 Day
Larsen chart study.Larsen spot cmp 2355
Weekly time frame
Elliot wave study
Motive phase on verge to mature.
Ascending wedge pattern formation
Counter is trading in overbought zone as per swing indicator and structure formation.
Bearish divergence on RSI with respect to price.
Time for bulls to sit on cash.