LT trade ideas
Short with Risk of 1% and RR of 1:1.74Short with Risk of 1% and RR of 1:1.74
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NOTE: You should not engage in trading unless you fully understand the nature of the transactions you are entering into and the extent of your exposure to loss. If you do not fully understand these risks you must seek independent advice from your financial advisor. All trading strategies are used at your own risk."
Gem of the week. LT (26/9/21)Today I want to present a GEM in our stock of the week series meant for investors intrested in wealth creation . LT came on my daily chart on 24 May @ 1142. Since then I have recommended this stock multiple times. This week stock has given a unique breakout on weeklychart. If you see, since 2007 stock is trading in a range (red lines) . It has tried to break this level multiple times in a past and took heavy resistance. This week, however, it has able to breach this level successfully. My own target for this stock is 3200 in 2 years . This is a very good entry points for new comers too! 14 years breakout means a lot. This is extremely well techno-funda stock with very low PE. Expert in construction and defense. Each investor should have this stock in his portfolio.
View - Medium to long term.
Time - 2 years
Target - 3200.
LARSEN & TOUBRO - LT - NSEBiggest infrastructure company in the country.
Decent dividend yield.
Plenty of status quo projects because of covid to be expedited before 2024 elections.
Huge cash in books to be utilized for future growth, organic and inorganic.
No debt, honest management
A classic pattern for a quick margin trade with upside for 2200 next 3 quarters.
L & T Ascending Triangle pattern Ascending triangle pattern - breakout..
An ascending triangle is a chart pattern used in technical analysis. It is created by price moves that allow for a horizontal line to be drawn along the swing highs, and a rising trendline to be drawn along the swing lows. The two lines form a triangle. Traders often watch for breakouts from triangle patterns.
10 - 15 % for short term trade..
Disclaimer: Not a call/buy signal. discussing only chart patterns that I practice.....