Larsen & Toubro Ltd. (L&T) is a potential short candidate

A. Breakdown from a Late-Stage Base
Trend: The stock appears to have formed a late-stage base with multiple failed breakout attempts.

Breakdown Confirmation:
The price is trading below key moving averages (50-day, 150-day, and 200-day).

B. Trading Below Key Moving Averages
The stock is currently below the 50-day, 150-day, and 200-day moving averages.
The 50-day (shorter-term trend) has crossed below the 150-day and 200-day MAs, indicating a bearish trend.

C. Weak Bounces & Rally Attempts
There have been failed bounce attempts in previous sessions.
Volume appears low on up days and high on down days, suggesting distribution by institutions.

D. Support Breakdown
The stock is hovering around a major support level (~3,271-3,340 INR).
If this support breaks convincingly on high volume, it could trigger a further sell-off.
Next support level: 3,031 INR (potential profit target).

2. Entry & Risk Management for Short-Selling
Entry:
Ideal entry would be below 3,270 INR with strong selling volume.
A short entry on a weak rally into resistance (~3,340-3,405 INR) could also be considered.

Stop-Loss:
Place a stop above the 50-day MA (~3,502-3,529 INR).
If price reclaims the 50-day MA on strong volume, the short thesis is invalid.

Profit Target:
First Target: 3,031 INR (previous major support).
Extended Target: If it breaks 3,031 INR, further downside is possible.