L&T Update.

Prudent  Investments.

( Invest With Prudence. )

 Larsen & Toubro 
Short Term View.

As per the Chart Above

L&T has broken out of the wedge , not only that,

It has also formed a cup & handle pattern as shown in the pic above and has given BO of the same as well.

However, the important factor to be noted here is that on the Daily Chart, we can see some wicks and gaps acting as support.

The range of cup & handle is ( 1383 - 1309 ) in spot.

The BO of which shows that L&T may come down to app 1235 - 1240.

For F&O traders, one should always do sell on rise , till the target is achieved, analyzing the chart properly and applying risk management techniques.

The red horizontal line, will act as Stop Loss as per the current scenario, though if the downside persists, SL will shift accordingly as per the chart formation.

Note :

I am not a SEBI registered Investment Adviser and my accuracy is not guaranteed. My posts are my personal views and for information / educational purpose only.

Therefore, kindly, do your own research or consult your adviser before trading or making any investment. 

I am a Trainer & Mentor, for those who wish to learn Technical Research in Capital Markets. My ambition is to make you self - sufficient, by teaching you from Basics of Technical Analysis to High Probability Trade Setups, so that you gain expertise and make money / create wealth for yourself.

ITC Update

Prudent  Investments.

( Invest With Prudence. )

 ITC 
Mid Term View.

As evident from the chart above 

ITC has broken a Crucial Monthly support app. 250 and has already given a close on Monthly Charts below it.

But since the chart shows the formation of Flag Pattern ( price app. 43 - 252 ), and also the BO of the same , therefore the Overall Trend still remains positive.

However, BO below the upper resistance of the Flag, may have changed the Short Term to Mid Term view of the Chart, for novice traders.

So the next levels where ITC can find buyers coming in can be app  222, 199 and 177.

The level of 177 will be the most crucial one, as it is the base support of the Flag.

It will act as POLR.

Though, As of now the ADX has also given sell crossover on Monthly Chart.

Close below 177 on Monthly basis, will change the Long Term Trend from Positive to Negative.

Even for the short term, the stock looks bullish to me, and can be bought in the range of 235 - 238, for the target of app 257 - 260. , keeping SL on close below 234........TF within 5 - 10 Days.

I think one can buy on dips ( Only for Mid Term  -  Long Term Investors ) at the above mentioned 3 support levels, with proper money management methods being applied.

Note :

I am not a SEBI registered Investment Adviser and my accuracy is not guaranteed. My posts are my personal views and for information / educational purpose only.

Therefore, kindly, do your own research or consult your adviser before trading or making any investment. 

I am a Trainer & Mentor, for those who wish to learn Technical Research in Capital Markets. My ambition is to make you self - sufficient, by teaching you from Basics of Technical Analysis to High Probability Trade Setups, so that you gain expertise and make money / create wealth for yourself.