Hey Guys,
We have nothing fancy here, its just simple trendline with elliot wave, so on the retest of trendline which happened yesterday we may get move upwards in LT. If trendline breaks down we may see downward move and elliot becomes invalid.
Thanks for your support...
Happy Trading !!
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...
LT always one of the most preferred companies for long term investment.But as the investment scenario in India is weak and LT also didnt look much attractive in current scenario to initiate long term position.
But with last weeks close happening in support region,dont expect any immediate bounce backs because Nifty Index also struggling to break above 7500 over...
This is simple one..no advanced stuff added here :)
LT is on bullish run for sometime now which we can clearly see from the chart
Note that, there is Pricezone marked in yellow lines which indicates a ranging zone and right after that Bullish trend continued. It can be mentioned as "Breakout" from range zone.
Aggressive Traders enter right @ Breakout,...
I'm looking for a strong break out on either side of consolidation in order to define the trend.
As per RSI, it looks bullish and expected a strong bullish breakout candlestick.
Prior to budget, I'm watching out on this one in order to follow the breakout and continue to ride on the trend.
It will be too brave to predict stock like LT and that also for next few years but according to my analysis of charts. Price will change long term trend from May/June 2016.
This is just analysis not investment suggestion or advice.
