L&T traded at the bottom of the channel, the green candle followed by doji confirmed the reversal to the top of the channel. Fresh long above 71 level.
The stock moves in a very strange , continuously locked in upper-circuit since May 28 to June 26, then locked in a lower-circuit June 29 to July 9 then seems to start rally again today(July 10), what makes this stock for this giant move ? how a technical trader can trade this stock ? any possibility for making profits ?????
It's trading near to the bottom of the channel. buy if it follows the direction towards the top, ignore the trade if it breaks below the channel and go short :-)
The stock price moving to the trend line (560-563 level) and take reversal will hit the target (588) in few days.Ignore the trade if it breaks below the trend line.
levels mentioned in chart.
Pantaloons Fashion & Retail limited formed a cup and handle pattern indicates bullish trend. wait for the break-out with a high volume. :- )
Two possibilities, It becomes a range bound or another upward swing but volume is too low.
Buy if the price sustain above 31.15, sell if the price turn back to the range.