NSE:LTIM has given a breakout and closed above 4515. My idea is to take entry at 4515 with stop loss of 4325 (-190 points risk). My expected upside target will be 4925 (+410 points).
Note: This is my personal analysis, only for learning. Thanks.
>Breaking out 5k level
>Breaking the LL pattern
>Reversing from 61.8% retracement from previous monthly swing
> Small SL, High return
>Closed above 200 MA on weekly TF
>SL 4950 on day closing basis
>Target 100% on a long run
Out of the 10 stocks in NSE:CNXIT index , NSE:LTI has 5.94% weightage.
The stock is at a good support level and also in a trendline support, following from July 2021.
As IT sector started booming again , as per my view, We may see this stock hit 8000 in near weeks.
IT sector view : looks bullish for next couple of weeks
The trade seems in a good reward to...
Potential stocks to watch for Intraday trading on 1 Dec 2021 are Tatasteel, Jublfood, srtransfin , TCS , LTI and Alkem .
Caution: Stay away from Travel and hotel stocks
Good consolidation at 6500 to 6900 level close above 6900 can lead to new all time high with days low as sl. Looking good on chart not trading personally will watch
L&T infotech has been consolidating since january 2021 and consolidation has unfolded as flag pattern and recently it has given breakout of flag pattern (bullish continuation pattern) and has now turned sideways above breakout point, once the consolidation is done, the stock can resume its uptrend. the wave structure also suggests a positive outlook, it appears...
