L&T cup and handle breakout pattern and ↗️➡️↗️ possibilityDear traders,
Friends I came with a classical cup and handle breakout pattern.
Along with this idea we saw that there was a impulse before this consolidation (presently) . So we can guess a impulse in future.
The stock has already give the breakout and this is the time to play a buy move.
We expect a bullish movement for long term.
I setup a take profit and stop loss but I want to suggest in this trade that the trailing Stop loss strategy is the best 👍.
🧐➡️ After breakout there is a slow movement because of the overbought condition.
We can see the overbought condition by the RSI indicator.
LT trade ideas
The dark horse.This is a weekly chart of LT. The stock has given a breakout on weekly chart. This breakout is called as breakout above multiple tops . If you see, in the past this stock has taken resistance multiple times around 1560 to1600 levels. This week, however, it has managed to give a clear breakout. 1600 used to be its all time high and it has broken it with huge volumes. This stock will be moving under blue sky, means there's no upper cap for this stock. My target is around 3200. It should take around 2 years, as mentioned earlier. It's a great fundamental company so investors should take this opportunity to buy this stock.
LARSEN & TOUBRO Monthly Strong REVERSAL ZONE
BEARISH Deep Crab On Type 1 Entry Earlier Pattern given good reaction & Hit TARGETS
now price is again in PRZ Zone of Pattern it becomes a TYPE2 Entry which is REVERSAL
Within 3-5 price bars need the confirmation from a BEARISH CANDLE with RSI Below 70
POTENTIAL SELL
L&T :: Looking Bullish on Daily chartL&T is very near to forming an inverse H&S pattern on daily chart frame with neckline at 1584. If it breaks this level and sustains above it the next target should be around 1700 to 1800 range.
Keep an eye on this...
Note: Only for education purpose not a recommendation
L&T - Again failed to surpass key resistance zone L&T seems like again failed to surpass key resistance zone...
Stock has made many attempts in this zone past few months but failed to do so and even we can see clear trend change.
As per chart watch out for these levels if keeps breaking than we can see 1327 or below it... View negative above 1426...
Note that this is not a stock recommendation...
Do your own analysis don't invest and trade blindly...
1300 to 1290 is a strong demand zone and we might see trend reversal from that zone... View negative below 1280...
LTThe points have been marked on the chart from where it reversed in March and at the same point it again reversed on upside.
So again the script is at the very same point, from here it may again show upside towards 1550.
If not then it may reverse towards 1450-1450
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Hi all,
Its pleasure to have you all here.
I have started putting these charts as a contribution from my side to all people who are new to business, as I had to struggle a lot without any sources at disposal. So please consider this a just small contribution from my side.
Few Honest Disclosures:
1. Any idea shared is my personal view, its not a recommendation, neither any kind of paid propaganda, so please
do your bit of research.
2. Ideas shared does not mean that I trade all or have position in them, this is just a helping hand to all.
3. I expect no comments or like nor any negativity, as I said its just a small helping hand from my side, please plan your risk and trade as per your capacity.
4. To trade in Cash, options or futures is your sole choice and your own risk
5. I am no expert in Tech Indicators, I believe in support resistance and trendline theory, you may use this as a supplement theory for better results.
6. I work for my own living, this is a hobby which I do sincerely to help anyone who might come across my charts.
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