Larsen and Toubro Infotech (LTI)
L&T infotech has been consolidating since january 2021 and consolidation has unfolded as flag pattern and recently it has given breakout of flag pattern (bullish continuation pattern) and has now turned sideways above breakout point, once the consolidation is done, the stock can resume its uptrend. the wave structure also suggests a positive outlook, it appears that the stock is getting subdivided in wave 3 as shown in chart, as per trend based fibonacci extension the stock can possibly rise towards 4697 where wave 3 would be equal to wave 1, once 4697 is breached the up move can stretch higher towards 5143 161.8% of wave 1,
On the way down, the recent low of 4220 and 20 DMA of 4164 will provide support in near term.
One can go long at current level or in dips if any.
Wave Structure and key levels
Both Breakout candles having good intensity of Volume
Macd in Weekly, positive crossover and Uptick and also above zero line
Macd in daily positive crossover and Uptick and also above zero line
Rsi in Weekly Uptick and also above 60
Rsi in Daily above 60
Disclaimer
I am not sebi registered analyst
My studies are Educational purpose only
Please consult with your Financial advisor before trading or investing
On the way down, the recent low of 4220 and 20 DMA of 4164 will provide support in near term.
One can go long at current level or in dips if any.
Wave Structure and key levels
Both Breakout candles having good intensity of Volume
Macd in Weekly, positive crossover and Uptick and also above zero line
Macd in daily positive crossover and Uptick and also above zero line
Rsi in Weekly Uptick and also above 60
Rsi in Daily above 60
Disclaimer
I am not sebi registered analyst
My studies are Educational purpose only
Please consult with your Financial advisor before trading or investing
YouTube: youtube.com/@rk_charts
Telegram : t.me/RK_Charts
Twitter : @charts_rk
Email : rkcharts@gmail. com
Disclaimer.
I am not sebi registered analyst.
My studies are for educational purpose only.
Telegram : t.me/RK_Charts
Twitter : @charts_rk
Email : rkcharts@gmail. com
Disclaimer.
I am not sebi registered analyst.
My studies are for educational purpose only.
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Disclaimer
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