Larsen & Toubro showing bearish divergence in Weekly and Monthly
-The Stock seems to lost its bullish momentum with bearish divergences(RSI) in weekly and monthly timeframes.
-Prices seems to accumulate at the top with no or negligible bullish movement in last 5 months(No strong bullish explosive candle in last 5 months).
-Inverted hammer in monthly with Evening star pattern in weekly indicating that stock may turn its trend to become bearish.
-Any follow up candle to evening star in weekly time frame can trigger entry for short trade(Futures).
-Looking to play Directional option strategies(Bearish) as this stock will not be strongly bullish(in short term) for sure.
-Breakout of last inverted green hammer in monthly will change my view about this stock.
-Prices seems to accumulate at the top with no or negligible bullish movement in last 5 months(No strong bullish explosive candle in last 5 months).
-Inverted hammer in monthly with Evening star pattern in weekly indicating that stock may turn its trend to become bearish.
-Any follow up candle to evening star in weekly time frame can trigger entry for short trade(Futures).
-Looking to play Directional option strategies(Bearish) as this stock will not be strongly bullish(in short term) for sure.
-Breakout of last inverted green hammer in monthly will change my view about this stock.