L_t
L&T breakout toward all-time-high zoneThe price of the stock L&T (NSE: LT) is has broken out toward all time highs (ATH) on the day time scale. The price retraced toward previous high of 2420 and has exhibited a continuation.
Bulls are strong in the ATH zone and buying the breakout is the most logical thing toward risk management level of 2420.
Long-term target would be 2.618 Fibonacci extension of 3120.
L&t at a crucial supportLT had given an upmove of massive 30% in just 6 months from its previous breakout level of 1600 shared earlier.
It has already retested that breakout zone. Currently, stock is trading at its 200 DEMA and a strong demand zone of 1720-1740.
This stock is looking great for long term as well as short term investing at this current price.