L&T has broken major resistance of 1590-1600 in monthly and weekly timeframe showing heavy weakness in the chart am expecting trgt upto 1350-1330 etc and going on we can buy puts
The stock has broken out and retested, therefore may undergo a reversal rally. Trade is supported by Supports Nearby. Risk Reward Ratio - 2:1 SL is placed below the support zone & the lower trendline. The target is placed near resistance.
Adding in portfolio for long period of time. Target up side is open. Can book profit on Mentioned levels.
This is good time to go short on this auto stocks. Forming good setup on daily closing...
due to reliance fomo it came down for support and if monday market makes movement and send this stock above 1340 than it will be a good recovery of this stock Head and Shoulder : it can go higher from this point if close above 1340 weekly trend line is there to push the upward button