As you can see in the chart there is a clear inverted Head and shoulder pattern being observed in LT stock. It took 8 months for the stock to get into this pattern. The stock can be a good pick for short/long term investors with a view of 3-6 months. Any weekly/monthly or sustained daily closing above 1700-1710 can take the stock to much higher levels of 1900/2000 for a 10-15% move. This would require lot of patience so only patient investors get into the stock.
Stock View: DS Kulkarni
The stock has taken support from the green trendline everytime the stock falls. Till this green trendline is taken care of, the stock is looking good. For short term players: Buy DS Kulkarni at around current levels of 68.5 with a strict stoploss of 65 on closing basis and look for targets of 75/80 in short term. For day traders: Momentum now only above 71-72 levels.
Have a nice trading day
Regards
Ankit
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