LTI - Elliot wave structure of LARSEN & TOUBRO INFOTECH

24 Haz 2022

LTI is showing wave structure like, either larger wave A-B-C is done and now deeper retracement is possible as a wave X, or after wave 1-2-3 is done and now possibly in wave 4, where wave A-B is done and now wave C is unfolding.
This stock can see good pullback towards north direction nearly above 4600 where wave C would be equal to wave A, on the way down 4000 and 3897 would be a crucial support levels to watch out for.
All other trend indicators are also allowing to go long with mentioned levels on chart, RK's mass psychological cloud has confirmed buy signal on hourly chart along with support of RK's stop line which is good enough to rely on as always.

Overall wave structure on daily chart


price entered in RK's mass psychological cloud, along with RK's stop line support


EMA's positive golden cross done on hourly chart


Price closed above previous closing based highs on hourly chart


macd positive crossover on hourly chart


macd already in positive crossover and now uptick on daily chart


RSI uptick and now its above 60 levels on hourly chart


RK's Momentum is also positive crossed on hourly chart



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My studies are for educational purpose only.
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