dhananjay.d.joshi

Larsen & Toubro short term analysis

BSE:LT   LARSEN & TOUBRO LTD.
59 1 3
snapshot

As we are out of down trend channel and forming swing highs and swing lows stock looks in good up trend, but I am not convinced with the move, reason being DMI             and CMF             both are not supporting the up move.

I expect stock to correct from supply zone just above CMP.

If we get out of up trend channel then that will be the conformation of correction.

Levels for possible trades are on chart.
As we expected price corrected in the supply zone and did target in one trading day :-D, we got stopped in long trade just a day before yesterday. And yesterday price gave entry.

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