Wednesday, December 28, 2011

Larsen and Toubro Ltd. Technical chart | 28-Dec-2011

Below is the technical chart of Larsen and Toubro (L&T), listed on Indian stock exchange, using Ichimoku Kinko Hyo indicator.

Larsen and Toubro Ltd. Technical chart
Larsen and Toubro Ltd. Technical chart

on 05-Aug-2011, L&T stock price gave bearish breakout @1638 as it closed below kumo. After few trading sessions, it tried to cross kumo, but faced tough resistance there and failed. From there, it started its downward journey and touched the lows of 970.50

Now also, the stock price is trading below kumo and is a weak chart. But since, the kijun-sen line is flat, there is short term trading opportunity visible in the chart here. One can buy L&T at current price for the target of 1151.30 on short term.

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