Larsen & Toubro: The Stock Has Breached Rs1300 Mark on Recent Flurry of Orders, What Next?

Larsen & Toubro (LT IN): Stock Underperformance Despite Strong Order Inflow, Will It Continue?

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Chart based progressive global trading strategies, Chart Partners

Thomas Schroeder

Chart based progressive global trading strategies

Chart Partners

Chart Partners objective is to discover medium-term cycle turns and profit opportunities before they unfold, within structural trends while preserving capital with clear degrees of risk. We have real return ideas. 

Markets are dynamic and trading systems must reflect this. It is crucial to determine underlying correlations and lead-lag relationships within global markets and the impact on linked instruments. Our weekly Chartonics product gives you short-term trading strategies that can be applied within the medium and longer term macro trends that are mapped out in our strategy updates. 

Our methodology fuses global market variables and isolates drivers in trends. We specialize in FX, index trade in NY and Asia with a focus on Asian stocks. 

Technical Analysis

<a href="https://www.smartkarma.com/entities/larsen-toubro-ltd" target="_blank" rel="noopener" data-smartkarma-citation="entities:2499:1">Larsen &amp; Toubro (LT IN)</a> is exhibiting basing signals off of 1,280-1,300 support and is in line to attract some defensive flows given our topping view for the Nifty near 12,400 ahead of an approximate 6% pullback.This chart illustrates basing support near the 1,300 area that has held over the last 6 months (slight noise in December) and is now fresh support after seeing a pick up in buy volume late last week. Risk lies with a re test of 1,300 and then rise to challenge the price hurdle at 1,430/40 and pattern resistance just above this level.Concern lies with outlined rising wedge that would break lower if it fails at noted resistance.Macro basing: This macro flat range will ultimately break to the upside, and worth making long bets near 1,300/1,250 for the long term to eventually clear and hold above 1,440 and 1,550 with a new high macro projection.

Larsen &amp; Toubro (LT IN) is exhibiting basing signals off of 1,280-1,300 support and is in line to attract some defensive flows given our topping view for the Nifty near 12,400 ahead of an approximate 6% pullback.This chart illustrates basing support near the 1,300 area that has held over the last 6 months (slight noise in December) and is now fresh support after seeing a pick up in buy volume late last week. Risk lies with a re test of 1,300 and then rise to challenge the price hurdle at 1,430/40 and pattern resistance just above this level.Concern lies with outlined rising wedge that would break lower if it fails at noted resistance.Macro basing: This macro flat range will ultimately break to the upside, and worth making long bets near 1,300/1,250 for the long term to eventually clear and hold above 1,440 and 1,550 with a new high macro projection.

Larsen & Toubro

Larsen & Toubro Base/Buy Support