L&T Finance has started its next leg Movement on already completed Cup & Handle breakout.
As you can see from the charts, the price has consolidated for around 8 years under this beautiful cup and Handle formation. Having this pattern in a weekly time frame and having already completed the neckline break out, with excellent retest and pullback, the stock is well poised for a zooming move in further days.
Adding fuel to the move is that its results is expeced on 15th October, which is expected to be super duper as this is festive season.
And in past 15 years, 11 years the scrip has given good returns in the month of October.
Todays Volume is in good numbers.
Stock has closed well above recent 52week high.
Can be considered at below levels:
Entry - >268
Target 1 -> 300 -- Short term
Target 2 -> 348 -- this might take more time.
Stop Loss -< 233 Weekly close below this price.
The above details for educational purpose only.
As you can see from the charts, the price has consolidated for around 8 years under this beautiful cup and Handle formation. Having this pattern in a weekly time frame and having already completed the neckline break out, with excellent retest and pullback, the stock is well poised for a zooming move in further days.
Adding fuel to the move is that its results is expeced on 15th October, which is expected to be super duper as this is festive season.
And in past 15 years, 11 years the scrip has given good returns in the month of October.
Todays Volume is in good numbers.
Stock has closed well above recent 52week high.
Can be considered at below levels:
Entry - >268
Target 1 -> 300 -- Short term
Target 2 -> 348 -- this might take more time.
Stop Loss -< 233 Weekly close below this price.
The above details for educational purpose only.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.