Trading Strategist

Syed M Shameel
Date 20 Jan 2015

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[ Technical Note : LARSEN&TUBRO LTD]

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Technical Note : L&T

CMP 1631

Case in point: The Stock had under gone huge secondery correction post June 14. Our
Technical Hypothysis is that the price conjection has happened close to its all time high
breakout (Rs 1563 November 2007). It is possible that Prices move back and forth for some
time around such crutial breakout to make base and gather momentum for another leg
up..
The level of 1650 is acting as a key Pivot.
A Strong close above Pivot will be consider as a beging of new leg up with
Minimum Objective of Rs 2026. (3-4 Months)
LT DAILY SCALE 9 M0NTH BAR CHART
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PS: When a broad Index move from one Zone to another sector rotation happens.
For last Six months Banks,Autos and BFSI perfomed very well. We are assuming
Infra will do well in next upmove with in that LT will be the Leader

Disclimber: The analysis and opinion expressed in these report are based on the technical analysis of the past price action. The
stop loss level provided with the recommendation is important. The original view would stand negated if the stop loss level is breached.
There is risk of loss in trading. Authors recommendations are solely made with the purpose to educate the market
participants/traders/investors and to enable them to derive maximum benefits by acting upon them. While due care has been taken in
preparing these comments, no responsibility will be assumed by the author for the consequences whatsoever, resulting out of acting on
these recommendation.

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