Actually I noted this pattern when I came across a ping in my private messages..else I might have skipped this. Here we have a bearish shark pattern ( I usually don't prefer sharks, bcos they are as dangerous as their name :) ). Its completion zone for LT is exactly in resistance zone, based on valid reversal confirmation I will initiate short positions here. If...
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...
Today at 30 mins Chart, observed a breakout of previous support that will take prices further down. Good time to short this one at the given Risk:Reward
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,...
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...
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.
LT has be going trough the correction after making a top around 1890. The ABC correction has been completed and I would expect the stock to move higher and make new highs now. However, as a conservative target of 1750 and stop loss just below the last low would give a risk reward ratio for 1:2.5. Happy Trading!!