The stock Larsen & Toubro (NSE: LT) has made a series of bullish rejection candles characterized by distinguishable upper wicks for the last 5-6 candles. This is coupled with the fact that the stock is trading at the top end of its 20DMA-Bollinger Band. We consider these wicks a bearish sign and are of the opinion that the stock can fall from here and touch its 20 DMA (Bollinger Band mid-zone) at 1865 in coming days. Bearish view is negated if stock crosses the wick high of 1982.
Trade geschlossen: Ziel wurde erreicht
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Our target of 20DMA-Bollinger band mid has been reached.