Trade ideas
LARSEN & TOUBRO, first good stock in IT sector hey guys ,
IT sector was in a constant downtrend for a long trend ,
but now ,
we can see some CORRECTION in IT sector ,
and the first best company to invest in is,
LARSEN & TOUBRO
this stock was moving in a fixed downtrend,
and this stock was making a pattern called
FALLING WEDGE PATTERN
and now this stock has crossed it's resistance ( of this pattern )
and we can see a GREAT BIG GREEN CANDLE ,
therefore , i suggest that traders should buy this stock
and earn high returns ,
also, LARSEN AND TUOBRO is a well established company ,
fundamentals are also good
therefore, there are less chances of BULL TRAP for traders ,
BUT FORST CONSIDER THE GLOBAL MARKET SITUATIONS,
1. INFLATION
2. WAR
3. RISING BANK RATES
4. INCREASING EXPORT DUTIES ON CRUDE OIL
AFTER CONAIDERING THESE SITUATIONS YOU CAN BUY THIS STOCK AND EARN HIGH RETURNS ,
😀😀
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.