Larsen & Tourbo

Hi All,

Today LT hit new 52 week high. Pattern also looks interesting.

I already took position in the November contract for a target of 1750 with SL of 1650.

Quarterly results of LT are even good.

Regards
Sujan

 

Hi Sujan
Can you tell us in more detail about the interesting pattern as for beginners it would helpful.
I could see a W pattern and after that the stock has random up down.

Kindly through some light.

regards
veren

 

The W pattern followed by Bull flag. Today there is a breakout of Bull flag.

 

thanks for the update sujan ...I am taking position in Nov 1750 call ...

 

Hi Sujan,

Yes it is a good pick.
Macd also given positive indication & RSI @ 62.6 which is rising in upward direction.

 

Took position 1750 CE ( Nov) @32.50
Thanks
Sudin

 

Squirred Off at 40.50 y'day. Thank you Sujan

 

Sujan is it worth to enter in today's falls

 

Took position 1750 CE ( Nov) @31.10.. Please share your thoughts.. Thanks..

 

RANGE OF 1690 - 1700 IS STRONG SUPPORT. So you bought at correct levels.

 

Thanks Very much Sujan..

 

What a solid performance.....see the facts below.

Yesterday Stock closed at 1715 level.

Today there is Gap down and opened at 1703 ...hit a high 1712 in the first one hour.

Between 1.25 and 2.25 stock hit a low of 1688 which is lower than yesertady's low 1692.

In next one hour btw 2.25 and 3.25 stock made a high of 1713 crossing today's previous high.

 

Srujan in conclusion what would this kind of intraday movement suggest us .....

 

Well said in one word . Hereafter I will ask you how to diplomatically answer to my manager Q's.

 

Shabbir, what's your view on L&T. Will it touch 1800 ?

 

There are two patterns in LT hourly charts. One is M pattern already formed.

Also attached LT Hourly chart where it is about to form a W pattern.

So how many of agree that it is going to form W Pattern.