L&T (Larsen & Toubro) – Critical Support Test!
**⚠️ L&T (Larsen & Toubro) – Critical Support Test! 🚨**
🔍 **Range-Bound, But For How Long?**
L&T has been stuck inside a **broad consolidation zone** between **₹3,237 (support)** and **₹3,887 (resistance)** for months. Now, price action is testing the lower boundary – a **break below this could trigger a sharp fall!**
📉 **Why This Support is Crucial?**
✅ **Multiple Tests of ₹3,237 – Buyers Holding, But Pressure Building**
✅ **Trading Below 44-SMA (₹3,865) – Bearish Bias Growing**
✅ **Breakdown Below ₹3,237 Could Lead to ₹3,000 or Lower**
📊 **Key Levels to Watch:**
🔹 **Resistance:** ₹3,865 - ₹3,887 (Upper Box Limit)
🔹 **Support:** ₹3,237 (Lower Box Limit) – Break Could Accelerate Selling
💡 **Trading Plan:**
🔻 **Failure to Hold ₹3,237 → Bearish Breakdown**
🔻 **Reversal with Strong Bounce → Possible Move Back to ₹3,600+**
🔻 **Watch Volume & Price Action for Confirmation**
⚠ **BIG MOVE COMING – Will Support Hold or Break?** 🔥👀
🔍 **Range-Bound, But For How Long?**
L&T has been stuck inside a **broad consolidation zone** between **₹3,237 (support)** and **₹3,887 (resistance)** for months. Now, price action is testing the lower boundary – a **break below this could trigger a sharp fall!**
📉 **Why This Support is Crucial?**
✅ **Multiple Tests of ₹3,237 – Buyers Holding, But Pressure Building**
✅ **Trading Below 44-SMA (₹3,865) – Bearish Bias Growing**
✅ **Breakdown Below ₹3,237 Could Lead to ₹3,000 or Lower**
📊 **Key Levels to Watch:**
🔹 **Resistance:** ₹3,865 - ₹3,887 (Upper Box Limit)
🔹 **Support:** ₹3,237 (Lower Box Limit) – Break Could Accelerate Selling
💡 **Trading Plan:**
🔻 **Failure to Hold ₹3,237 → Bearish Breakdown**
🔻 **Reversal with Strong Bounce → Possible Move Back to ₹3,600+**
🔻 **Watch Volume & Price Action for Confirmation**
⚠ **BIG MOVE COMING – Will Support Hold or Break?** 🔥👀
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.