Larsen & Toubro's stock has relatively easy flight from 1200 to 1600, but now next 100 / 150 something points may not come that easy. So here again, preferred strategy is to sell covered calls against the position or if you really want to short it then buy puts during the spike higher near 1700 / 1800.
You might have noticed that we seldom advise to short sell...
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,
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 !!
Going to a nice weekly high and then daily we have a resistance there and STOC and everything is over bought. i think we can get some selling from here .
Sell @ 1580 SL 1611 Target 1515.
IF some one wanna do small can do in options sell 1600 ce and buy 1650 ce 1 lot the risk will reduce to 80 shares short approx.
No trailing in this will trade till...
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,...
Enter only after valid Bearish candle or close below 1263.
Don't enter short before that bcos it can continue the Bull Run
Check your Stops,Entry,Targets as per Ur Trade plan
Good Luck !
Hit Likes for agreeing / Comment your views...
Happy Trading !
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 seems that the price has come down sharp and a lot. I assume that bottom is very close, at around 1270 levels.
It is because:
1. Harmonic for break out (marked in grey arrow)
2. Fibs retracement of 1.618 of A-B move
3. Long-term impulse leg fibs of 61.8
Therefore, 1270-75 is a strong level to buy back this one.
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!!
