Larsen & Toubro (LT) a buy on dips (Elliott Wave Analysis)
In this article I'm doing Elliott Wave Analysis of LT .
As per the posted chart LT seems to have started the Wave 3 and currently seems to be have completed the lower degree Waves 1 and 2 , simply speaking we should be seeing a 3rd of the 3rd real soon if this analysis is correct.
Currently 2 trading strategies can be employed :
1. Traders can buy on dips in the Red Zone around 1450 to 1430 keeping strict SL below 1380.
2. A less aggressive approach would be to buy on clear break of the important Resistance of 1520.
Once the market sits above that level it would be a clear validation of the counts.
Point of Invalidation lies below 1300
I will update further if need arises.
As per the posted chart LT seems to have started the Wave 3 and currently seems to be have completed the lower degree Waves 1 and 2 , simply speaking we should be seeing a 3rd of the 3rd real soon if this analysis is correct.
Currently 2 trading strategies can be employed :
1. Traders can buy on dips in the Red Zone around 1450 to 1430 keeping strict SL below 1380.
2. A less aggressive approach would be to buy on clear break of the important Resistance of 1520.
Once the market sits above that level it would be a clear validation of the counts.
Point of Invalidation lies below 1300
I will update further if need arises.
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Author : Think with the Markets
Video Course : 50eyes.com/elliott-wave-course
Author : Think with the Markets
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