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.

Image and article originally from niftyvision.blogspot.com. Read the original article here.