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LARSEN & TOUBRO LTDLARSEN & TOUBRO LTDLARSEN & TOUBRO LTD

LARSEN & TOUBRO LTD

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LTO trade ideas

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
NSE:LT
by anshusahay
Larsen & Toubro (LT) a buy on dips (Elliott Wave Analysis)In this article I'm doing Elliott Wave Analysis of LT . As per the posted chart LT seems to have started the Wave 3 and currently seems to be have completed the lower degree Waves 1 and 2 , simply speaking we should be seeing a 3rd of the 3rd real soon if this analysis is correct. Currently 2 trading strategies can be employed : 1. Traders can buy on dips in the Red Zone around 1450 to 1430 keeping strict SL below 1380. 2. A less aggressive approach would be to buy on clear break of the important Resistance of 1520. Once the market sits above that level it would be a clear validation of the counts. Point of Invalidation lies below 1300 I will update further if need arises.
NSE:LTLong
by NeeravYadav