LARSEN AND TOURBO FUTURES LOOKING WEAK ON CHARTS.

STOCK FUTURE UPDATE ON LARSEN AND TOUBRO FOR OCTOBER SERIES 2016…

AFTER A GOOD POST BUDGET RALLY STOCK PRICES EXACTLY RETRACES AT 61.8% . INDICATING SOME CONSOLIDATION TO GIVE A FRESH BREAKOUT.SO FROM HERE SHORT TERM HORIZON LOOKING QUITE WEAK AS THE STOCK PRICE FUT HAS SHOWN SOME SHORT BUILD UP IN OCT SERIES 2016.

MOREOVER , TECHNICALLY SPEAKING STOCK HAS FORMED A HEAD AND SHOULDER PATTERN ON HOURLY CHARTS BREAKDOWN SEEMS TO BE BELOW 1400 LEVELS….

ALL OTHER TECHNICAL FACTORS COMPLEMENTING SHORT TERM DOWNFALL LIKE MOVING AVERAGES AND MOMENTUM INDICATORS.

SO SELL LT ON ANY RALLY SOMEWHERE AROUND 1450-1480 LEVELS WITH STOP LOSS AT ABOVE 1520 CLOSING BASIS FOR THE TARGET OF 1385 -1350- 1300..

ADOPT AN OPTION STRATEGY TO LIMIT YOUR LOSS AS DUE TO GEOPOLITICAL TENSION WE MAY NOTICED HIGHER LEVELS OF VOLATILITY..

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