321 SAN. Will this Textbook pattern successfulSL compulsory
Disclaimer: Set-up shown here is only for educational purpose only; This is not a sell or buy recommendation. We are not responsible for any gain or loss; Consult your financial advisor before your execution of any recommended trade.
There are heavy chance that most of the presented scripts does not meet set (described) entry conditions, as most of the posted analysis are based on Static ANalysis (SAN). Many times Market does not provides good and ideal entry points. Hence needs personalized intraday techniques and strategies (PITS) for your entries and exists (Profit taking point 1 (PT1 or PT2) or Stop loss points (SL)). Always run with SL.
Set-up presented here is for observational purpose only and most of the set-up designed by WavoZen is based on SAN for intraday purpose only to get the basic structure for intra-day short term or ultra-short term purpose only. Most of the set-up is valid for a day or otherwise mentioned. Hence requires your fine tuned personalized intraday techniques and strategies (PITS) based on Real-time Analysis (RT)/ Dynamic ANalysis (DAN) to get benefit from these structures or to have minimum loss, if wrong through your PIT Strategies (your trade plan). Overnight events, Gap-up opening, gap-down opening, news, major economic data release etc may impact the deviation from the assumed scenarios. If entry conditions and criteria are not meet, then we should not take any chance to enter on assumed scenarios. (ENT= Entry not triggered). If there is a deviation in assumed scenario in time, speed and angle and these deviations will not encourages for entry as referred as entry not valid (ENV). Daily post appears on stocktwits.WavoZen.
LTO trade ideas
Patience is the key Price action on Larsen and Toubro is extremely choppy for the last couple of months..the price at 1400 odd levels have been a massive resistance so ar in 2019. The stock is fundamentally good but it will be beaten and sucked by the volatility that could prop in the coming weeks... This company rewards its shareholders genuinely and so far, it seems that stock hasn't found any good reason despite the company acquiring good and decent projects in the last six months..
Hence, if something does not perform well on the good news, it probably won't perform at all. But, technically, if the stock manages a chunky pullback 1000-050 is the level I am looking for a good load up. The price also coincides with a golden ratio trendline and good support. Therefore, from Risk reward perspective, 1000 is the Price.
Larsen & toubro......... Monthly chart analysis.This chart shows you the current monthly fibonacci sequence in which this stock is. At the moment the stock is trading in between the support zone ( 1200 ) and resistance zone ( 1470 ). A Monthly candle close above 1470 would take
it to the potential target of 1650 . This is just my view...... you are free to comment.
LT - SHORT TERM AND LONG TERM PLANLT HAD MADE AN ENDING DIAGONAL IN THE C WAVE ON THE DOWNSIDE. THIS WAS DEMONSTRATED BY THE FACT THAT THE ENTIRE C WAVE WAS RETRACED IN LESS THAN 1/4TH OF THE TIME TAKEN FOR IT TO FORM. THIS MEANS THAT THE CURRENT UPMOVE IS AN IMPULSE. WAVE 1 AND WAVE 3 OF THIS IMPULSE HAVE ALREADY BEEN COMPLETED AND WAVE 3 IS SLIGHTLY LONGER THAN WAVE 1. THIS MEANS THAT THE 5TH WAVE WILL BE THE EXTENDED WAVE, WHICH FURTHER SIGNIFIES THAT WAVE 4 WILL BE MORE COMPLEX AND TIME TAKING. HOWEVER, ONCE WAVE 4 IS COMPLETE, THE UPWARD MOVEMENT WOULD AT LEAST BE 170 POINTS FROM THERE. RIGHT NOW, THIS CAN BE TRADED FOR C WAVE.
THE ENTIRE UPMOVE FROM 1322 TO 1411, THE ABC WAVE COMPRISES OF A LEADING DIAGONAL IN WAVE A AND AN ENDING DIAGONAL IN WAVE C. THE IMMEDIATE TARGET OF LT IS 1358 WITH A STOPLOSS OF 1428. THIS TARGET SHOULD BE ACHIEVED BEFORE EOD OF 19 NOVEMBER