l&t- this will finance my expenses !!! 2X!!Key Observations:
Chart Patterns:
A cup-and-handle formation is visible, indicating a bullish continuation pattern.
A wave structure (likely Elliott Wave) is drawn, showing a Wave 5 target at 259.50 INR.
Support & Resistance:
Support Zone: 125-135 INR (marked as a buying opportunity).
Stop Loss (SL): 111 INR.
Resistance Levels:
164.05 INR (1.618 Fibonacci level).
188.77 - 198.90 INR (previous highs).
259.50 INR (projected Wave 5 target).
Fibonacci Levels:
0.5 Retracement: 125.12 INR (aligns with the buy zone).
0.382 Retracement: 141.11 INR (potential resistance).
1.618 Extension: 164.05 INR (breakout level).
Indicators:
RSI (Relative Strength Index): 49.39, indicating neutral momentum.
RSI-Based Moving Average: 62.65, showing a previous uptrend losing strength.
Conclusion:
The chart suggests a bullish long-term outlook, with a buying opportunity in the 125-135 INR range.
A break above 164 INR could confirm the next bullish wave.
The RSI is neutral, meaning the stock could consolidate before making the next move.
