Larsen & Toubro Limited Shs Sponsored Global Depositary Receipt Repr 1 Sh Reg-S
No trades
LTOD trade ideas
LARSEN & TOUBROLT - A reversal trade caught with the help of Bollinger bands
Note the following sequence of events here -
1. 3 continuous bear candles
2. The 3rd bear candle closing outside the lower Bollinger band
3. A bullish green candle opening higher & closing inside the Bollinger band accompanied by a strong historic demand zone
4. The bullish volumes are at least 3/4 the size of the last bar bear volume.
5. Lastly, the set up is accompanied by a Bullish divergence with RSI.
Target - 1550 / 1580
SL - 1450.