August 20, 2015
L&T (NSE Cash)
SELL
` 1828
` 1780 - 1785
` 1705
5-10 sessions
1750
1705
1804
1820
Bearish
Source: Falcon (Chart time - IST 13:15)
The stock is in a broad consolidation zone and has resisted around its previous highs of 1890.
We believe that the stock is forming a ‘Flat’ corrective pattern and prices are trading in
‘wave c’ of the pattern.
The ‘RSI’ oscillator has given a negative crossover with its average and is showing signs of
weakness.
Considering the current chart structure, we advise traders to sell this stock from current level
to a bounce up to ` 1785 for a target of ` 1705 in coming 5 to 10 trading sessions. The stop
loss for this trade set up can be kept at ` 1828.
August 20, 2015
L&T (NSE Cash)
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