Technical Charts:LT,M&M and Aban Offshore

By | November 3, 2011

What drives stock prices are human reactions. Ironically, the key to successful speculation is to remove our decisions from our emotions. “Without control over your emotions, there is very little chance for profitable success in the stock market.”

Larsen and Tubro

LT is trading in the range of 1429-1267. Stock looks week technically but value buying is emerging at lower levels where stock made a fresh 52 week low at 1267.

Results were good but company has reduced its guidance for coming quarter looking at global uncertainty.

Technically Gap is at 1355-1367 levels,break of 1367 will lead to gap covering till 1355. On Upside 1400-1407 range is the litmus test for the stock

Sell below 1367 Tgt 1355,1340 and 1307

 

M&M

 

 

M&M gave a breakout above 826 made a swing high of 877 and has corrected again to touch its breakout level.

Stocks in Uptrend generally correct again to touch the breakout level and continue there uptrend

M&M made low of 829 yesterday very near to breakout level of 826 and closed at 840, Stocks looks ripe to touch its swing high of 858.

Buy above 840 Tgt 849.9,858 and 877

Sell below 826 Tgt 819 and 809

 

 

 

 

 

Aban Offshore

 

Aban Offshore we covered few days before saying 414 is the resistance for stock and breakout trades gets active above 414 level. Stock broke out on 28-Oct and made a swing high of 439.

Now Stock faces its Litmus Test around 439-443 range

Reason being its having trendline resistance at 443 and most importantly 100 DMA@442. Last time stock broke 100 DMA@637 and corrected till 330 odd levels almost 50% correction.

Buy above 443 Tgt 448,459 and 465

Sell below 425 Tgt 420,413 and 407

5 thoughts on “Technical Charts:LT,M&M and Aban Offshore

  1. pratik

    sir according to me lupin is on the verge of fire it breaks upside trend line what u say…

  2. Bramesh Post author

    Dear Partik,

    I just follow my system which help in getting those levels. Follow charts with unbiased view you will also come to that level of analysis.

    Market is best teacher and we need to learn from it. I do not like reading books 🙂

    Rgds,
    Bramesh

  3. pratik

    but sir ur all levels r amaging and also work perfectly if we take todays exanple aban made low what u wrote so sir i once thought u r the oprator of that stock even happend in biocon y’day……. what u wrote is happening in particular stock thats y u r great analyst sir also want to know from where u learnt all these any particular book than plz refer….

  4. Bramesh Post author

    I am just a beginner and amateur analyst. TA is a sea and i feel i jst knw .00001% of it.

    It an ever learning and evolving process which keep on going.

    Rgds

  5. pratik

    thanks sir but i m on first step and u sir reached at the destination according to me bz ur all levels r working so ur level is so accurate…….

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