Larsen Toubro LT : Swing Entry Setup

Hey Guys,
Having cheerful Sunday ? Lets do some analysis on LT             ?

Don't get confused why chart is loaded with Fib levels, for better understanding and explanation purposes I have marked numbers for Fibs.

Those who followed Me for sometime will be clear the principal I use - " Gaps will be always Filled "
I kept this LT             in My radar from the day it gave huge gap up bcos it needs to be filled for sure. But was waiting for right time to post this. In coming 2-3 weeks it will be filled I believe.

Fib 1 : This is drawn on Larger swing and we are concentrating for Fib levels in Gap area and we got 61.8% (Golden ratio) and 50.0% passing through this area.

Fib 2: Drawn on current larger swing and 38.2% passing through our expected area (gap zone)

Fib 3 : By now you will be knowing which Fib level in our Gap area. So I am not gonna mention. Bcos I believe in mutual learning and teaching a Man to catch his own fish, not to feed fish always.

So with these Fib Confluences I will be buyer if LT             comes to this zone. I hope you have learnt to catch certain type of fish today or atleast where to fish :)

Have a happy Sunday, Enjoy
Comment: Wondering any possiblities of pullback to our marked zones as a result of resistance @1550's -1600's, if those are taken out, we need to find another opportunity to enter fresh longs.
Its headed towards 1570, break and sustaining above 1570 levels will lead to 1630 - 1640 Levels .. Atleast thats what me thinks
+1 Reply
InsiderB PRO jackson_philips
Yes, I am just looking for a decent pullback to initiate long positions
Ideas Scripts Chart
United States
United Kingdom
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out