LTTS READY FOR DOUBLE DIGIT RETURNS ...
L&T Infotech: Buy | LTP: Rs 4510 | Stop-Loss: Rs 4190| Target: Rs 5100 and 5900
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L&T Infotech took support from cluster of 200 EMA and MA supported by bullish engulfing candlestick pattern
But it got trapped in descending triangle pattern on 4Hr time frame .
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Supporting factors of this trade :-
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Stoploss will below low of bullish engulfing pattern and mentioned on chart along with important levels .
*********TAKE TRADE AS PER RISK APPETITE *************
.
.
.
L&T Infotech took support from cluster of 200 EMA and MA supported by bullish engulfing candlestick pattern
But it got trapped in descending triangle pattern on 4Hr time frame .
.
Supporting factors of this trade :-
- Support from 200 EMA and MA after
- Bullish engulfing at support
- RSI (relative strenght indx) formed bullish divergence
- MACD (moving average convergence divergence) also showed positive crossover however it is trading below the centerline
- we will take trade after breakout from descending triangle pattern if breakout happens with good volume .
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Stoploss will below low of bullish engulfing pattern and mentioned on chart along with important levels .
*********TAKE TRADE AS PER RISK APPETITE *************
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