LARSENLarsen took support @ 50% fib retracement level of 1987.85,
Try to buy near 1995-2000 range with 1986 as stoploss. If Nifty has to recover from these levels then LT is best buy.
LTO trade ideas
Larsen & Toubro , A Long Term Investment (Keep It Simple) FYI : Red Line refers to Monthly Trendline(TL) , Blue Line refers to Weekly Trendline(TL), Black Line refers to Daily Trendline (TL)
Larsen & Toubro ( NSE:LT ) is an Indian construction and manufacturing mammoth with MCap of Rs . 2.7L Crores ,so it's safe to say that LT is a blue chip stock with low downside and prospect of consistent return. Stock has given a CAGR of 18% over the last 5 years. Now coming to Technical Analysis of it's chart :
1. Stock gave a breakout and closed above redline for the first time in last weeks & has re -tested and bounced back from it which confirms this
breakout is genuine.
2. Stock is also respecting the blue line since post covid bull run.
3. Stock is trading @ All Time High ,hence using Fibonacci retracement tool to aim for targets which is 2800 in this case.
4. Swing traders can keep a trailing SL to minimize losses & maximize profits; for me it's whenever it breaks the blueline and gives a closing below
it.
5. For people looking to buy & forget, can keep a SL if it breaks and closes below the red line.
Have a Peaceful Trading!
LT APPROACHING TGT - BOOK PROFITS PEOPLEAll levels marked on Chart. Approaching T2 (T1 was 2000,,checkout previous idea). Profit booking advisable.
LT - VCP patternTape has formed VCP pattern.
Volume dry-up on contractions.
Long @1910
SL at Inside candle low; the final contraction.
Publishing for my future reference.
Only for educational purpose.
LARSENLarsen broke out of another bullish triangle & its consolidating at 1919 levels which happens to be its 50% FIB Retracement from breakout level.
Could be bought with mentioned sloss & targets.
LT MEDIUM SWINGAll levels indicated in chart. Would appreciate value additions, if any. Have a great 2022. Cheers.
Raising Channel Breakoutstock analysis: L&T has broken the raising channel it is good buy around current level with marked demand level as stop loss for short team. for long term it is expected reach the given target let's see
Happy Investing!
