Ltinfotech
A bull run is on the way, SL 4950 on day closing basis >Breaking out 5k level
>Breaking the LL pattern
>Reversing from 61.8% retracement from previous monthly swing
> Small SL, High return
>Closed above 200 MA on weekly TF
>SL 4950 on day closing basis
>Target 100% on a long run
LTI LongLTI made Good Correction
Expecting Reversal from low levels
Educated intraday levels are marked
For investment check my dip levels
LTI LONG BUY - IT boomingOut of the 10 stocks in NSE:CNXIT index , NSE:LTI has 5.94% weightage.
The stock is at a good support level and also in a trendline support, following from July 2021.
As IT sector started booming again , as per my view, We may see this stock hit 8000 in near weeks.
IT sector view : looks bullish for next couple of weeks
The trade seems in a good reward to risk ratio (~ 3.98)
Trade Details:
Entry: 7150 or below
Stop Loss : 6950
Target: 8000
Duration : 3-4 weeks
As this stock has a earning release today, we may see a gap up on today.
Stay Safe, Happy Investing:)
LTIGood consolidation at 6500 to 6900 level close above 6900 can lead to new all time high with days low as sl. Looking good on chart not trading personally will watch
LTI - NEoWaveLTI has published good results, First it will go up and again come down to finish the wave-C. Next move has drawn using red line.
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