Larsen & Toubro Ltd. (NSE: L&T) - Technical Analysis
📅 Date: February 04, 2025
🔎 Timeframe: Daily Chart
Market Overview
Larsen & Toubro Ltd. has shown a strong bullish momentum today, closing at 3,439.15, marking a +4.56% gain. The price broke above previous resistance levels, accompanied by a notable increase in trading volume. This indicates heightened investor interest.
📌 Market Snapshot
🔹 Change: +150.65 points (+4.56%)
🔹 Volume: 4.74M (Above 20-day avg: 2.53M)
🔹 Candlestick Pattern: Strong Bullish Candle Formation
✅ Key Levels Analysis
Support Levels
Support 1: 3,347.93 – A key level that was tested and breached today.
Support 2: 3,256.72 – A significant level for buyers to observe in case of retracement.
Support 3: 3,206.18 – Strong demand expected if the stock retraces to this level.
The stock recently bounced from the Bottom Range (3,262.55), validating a strong support zone.
Resistance Levels
Resistance 1: 3,489.68 – The closest resistance level; a breakthrough could signal further upside.
Resistance 2: 3,540.22 – Another level where selling pressure might emerge.
Resistance 3: 3,631.43 – Major resistance that could confirm the uptrend if broken.
✅ Volume Analysis
The trading volume today stands at 4.74M, a significant increase compared to the 20-day moving average of 2.53M. This volume spike suggests strong market participation, potentially indicating institutional buying or a short-covering rally.
🔎 Timeframe: Daily Chart
Market Overview
Larsen & Toubro Ltd. has shown a strong bullish momentum today, closing at 3,439.15, marking a +4.56% gain. The price broke above previous resistance levels, accompanied by a notable increase in trading volume. This indicates heightened investor interest.
📌 Market Snapshot
🔹 Change: +150.65 points (+4.56%)
🔹 Volume: 4.74M (Above 20-day avg: 2.53M)
🔹 Candlestick Pattern: Strong Bullish Candle Formation
✅ Key Levels Analysis
Support Levels
Support 1: 3,347.93 – A key level that was tested and breached today.
Support 2: 3,256.72 – A significant level for buyers to observe in case of retracement.
Support 3: 3,206.18 – Strong demand expected if the stock retraces to this level.
The stock recently bounced from the Bottom Range (3,262.55), validating a strong support zone.
Resistance Levels
Resistance 1: 3,489.68 – The closest resistance level; a breakthrough could signal further upside.
Resistance 2: 3,540.22 – Another level where selling pressure might emerge.
Resistance 3: 3,631.43 – Major resistance that could confirm the uptrend if broken.
✅ Volume Analysis
The trading volume today stands at 4.74M, a significant increase compared to the 20-day moving average of 2.53M. This volume spike suggests strong market participation, potentially indicating institutional buying or a short-covering rally.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.