Technical Analysis of Larsen & Toubro Limited:
MONTHLY CHART ANALYSIS: The technical looks that the major trend is bullish, and price following upside channel, also following three drive pattern which found to be completed, recent price reverse point will be resistance line of upside channel, major support zone will bet at 1262, which found to be broken, now next support will be at 1080.
WEEKLY CHART ANALYSIS: The technical looks that the major trend is bullish, but the short-term trend is bearish, and here the price following a downtrend channel, we have found a recent bullish breakout, but price not sustain at that level, and we get next sell-off, price near to 52week low which will be at 1125, there have a chances if double at level of 1200, if price sustain for a while, currently there not having major reversal conditions.
SHAREHOLDING REALLY LOOKS IMPRESSIVE FII + MF + INSURANCE = 57%
GOOD DIVIDEND PAYING COMPANY, BUT RECENT RESULTS NOT GOOD. YTD RETURNS ARE IN -(VE) WHICH LOOKS CORRECTION. CORRECTION MIGHT BE CONTINUE