$NSE:LTF

21 janv.

LTF
📊 **L&T Finance Stock Chart Analysis** 📉

In the L&T Finance stock chart, I can identify a clear descending channel pattern forming in recent months (visible from October 2023 to January 2025). This pattern is characterized by:

- Two parallel descending trendlines containing the price action.
- The upper trendline connecting the lower highs (around 151.95, 145.87).
- The lower trendline connecting the lower lows (134.10, 129.20).

Currently, the price appears to be testing the upper resistance line of the channel around the 146 level. The channel has a slight downward slope, indicating an overall bearish bias during this period. However, the recent price action shows some bullish momentum as it's moving towards the upper boundary of the channel. The trading volume has been relatively consistent throughout this pattern formation, with some notable spikes during key price movements. The RSI indicator shown at the bottom also suggests increasing momentum with the recent upward movement. 📈

### Potential Breakout Analysis 📊

- The current price (146.07) is testing the upper resistance line of the descending channel.
- The RSI is showing strength, moving above the 50 level with positive momentum.
- Volume has increased recently, supporting the upward price movement.

### If a Bullish Breakout Occurs Above 146-147 Levels 📈

- **First Target:** Around 151.95 (previous swing high).
- **Second Target:** Could extend to the 159-160 zone (based on previous support turned resistance).
- The height of the channel is approximately 16-17 points (145.87 - 129.20), so projecting this from the breakout point gives a potential target of 162-163.

### Key Points to Watch 👀

- **Volume Confirmation:** Should see above-average volume on breakout.
- **RSI:** Should maintain above the 50 level.
- **Price:** Should close above the channel resistance for confirmation.

### Risk Management ⚠️

- Strong support exists at the 140-141 zone.
- Stop loss can be placed below the 134-135 level (channel support).

**Disclaimer:** These are technical projections and actual price movement may vary. It's important to use proper risk management and not solely rely on technical analysis for trading decisions. 📉📈

il y a 2 heures

Transaction en cours

Stock has given breakout from the channel on 04-02-25.