Larsen & Toubro looks bullish from the lower levels on the chart for an upside target of 960 +++ levels
Larsen & Toubro looks bullish from the lower levels as the stock has formed a bullish candle pattern on the chart.
From the lower levels stock has retraced to its 50% of retracement levels and takes a sharp upside reversal on the daily chart. On the weekly chart, the stock has formed a Dragonfly Doji which indicates a bullish reversal in the stock.
Also, oscillators like RSI and MACD gave a positive crossover on the chart along with the supportive volume spurt while on the Friday trading session stock has broken its major hurdle level of super trend on the above chart.
Traders can buy Larsen & Toubro above 922 levels. If it breaks and closes above 922 then we will see an upside movement till 960—965 and further to 980 levels in the coming days.
Support and stop loss below 880 levels on the closing basis.
Disclaimer : This chart idea is only for educational purpose. Kindly consult your financial advisor before entering into any position.