As given earlier that there is trend reversal in L&T. Now there is further strengthening of up trend which is seen as there is Gap up opening with volume support. Stop loss 1350 and target 1650 gives good risk to reward proposition here.
Showing posts with label LT. Show all posts
Showing posts with label LT. Show all posts
L&T ends down trend
L&T ends down trend by showing the inverted Head and Shoulder pattern.
Target of 1320 can be given for the current breakout.
Target of 1320 can be given for the current breakout.
L&T at trend line support
After breakout above 1350 L&T has taken support on this trendline. This makes it a very good low risk stop loss.
SL 1500 Target 2100
SL 1500 Target 2100
L&T refueling . . .
L&T had a very good upmove. Now we see evening star formation. In case L&T trades below 1698 it will correct till 1630 levels just to refuel and fire a new rally. Target of 2100 was already given earlier.
L&T nearing crutial level
Expect L&T to take support at 1350-1400 level. It has acted as Resistance and is likely to act as support.
Will L&T continue its uptrend.
Considering the "long lower shadow" pattern in L&T. If it trades above 1269 then the uptrend will continue.
L&T - Engulfing Bullish Line
There is Engulfing bullish line in L&T and next 5~7 days it will see some rise.
L&T long term trendline at 1350
Longer term trendline support in L&T is at 1350 also nr 1300 there is a Fib support. If the support stays intact there are good chances of L&T to move to 1650 lev.
L&T pull back
Current pull back rally will take L&T to 1395 & 1460
L&T has taken support at 1150~1200 level and have pulled back with good volume. Though there is no clear trend reversal but further downside can only be established if it closes below 1150.
L&T has taken support at 1150~1200 level and have pulled back with good volume. Though there is no clear trend reversal but further downside can only be established if it closes below 1150.
L&T at bottom of range
Larsen & Toubro is consolidating and currently has taken support at the bottom of the range. One can buy with the stop loss of 1500 level with the target of 1800. Bigger move is only expected above 1800.
L&T Breakout target 1950~2000
As quoted earlier 1750 was acting as the resistance in L&T. Now that L&T has broken above the 1750 mark. It is now a bullish signal in this counter and its first target is 1950~2000.
Considering the double bottom at 1480 level this is the trend changing move in L&T.
Considering the double bottom at 1480 level this is the trend changing move in L&T.
L&T Trying the top of the down channel
It seems clear that L&T will hit the top of
the channel. More uptrend is possible only with
the break of the top of this channel.
Present target on this channel is @715 level.
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