LTOD trade ideas
LARSEN & TOUBROLT - A reversal trade caught with the help of Bollinger bands
Note the following sequence of events here -
1. 3 continuous bear candles
2. The 3rd bear candle closing outside the lower Bollinger band
3. A bullish green candle opening higher & closing inside the Bollinger band accompanied by a strong historic demand zone
4. The bullish volumes are at least 3/4 the size of the last bar bear volume.
5. Lastly, the set up is accompanied by a Bullish divergence with RSI.
Target - 1550 / 1580
SL - 1450.
view on Larsen & Toubro IndiaDISCLAIMER: There is no guarantee of profits or no exceptions from losses.
The technical analysis provided on the chart is solely the personal views of my research.
You are advised to rely on your own judgments while investing/Trading decisions.
Past performance is not an indicator of future returns. Investment is subject to market risks.
Seek help of your financial advisors before investing/trading.
LT - SHARK PATTERNThere is a formation of the Shark pattern on the daily chart of the Larsen & turbo.
The first Potential Reversal Zone of the pattern is at 1625-1636.
The second PRZ stands at 1550-1560
Keep an eye on price action around these levels for catching a reversal or pullback trade.
Weekly support of the stock also coincides with this pattern, making it an important formation.
L&t at a crucial supportLT had given an upmove of massive 30% in just 6 months from its previous breakout level of 1600 shared earlier.
It has already retested that breakout zone. Currently, stock is trading at its 200 DEMA and a strong demand zone of 1720-1740.
This stock is looking great for long term as well as short term investing at this current price.
LT - Channel Breakout & RetestL&T looks extremely bullish based on the below observations:
1. Broke the 20 EMA resistance with a Big Green candle forming a bullish engulfing pattern.
2. Channel Breakout and re-test done
3. Good volume compared to the last 7 days
Targets & SL are as mentioned on the Chart.
This is for educational Purpose only.