October 23, 2012

LARSEN & TOUBRO Ascending triangle

 

  • LT Daily chart shows ascending triangle breakout with volume advance.
  • If the breakout sustains price could be heading towards 1723 and higher levels in the short term.
  • Weekly chart also should hold above 1657 for confirming a breakout otherwise a false pattern is possible. Bulls are safe above this level.
  • S&P 500 ANALYSIS AFTER CLOSE
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