LTI has had a big move up and now consolidating forming what appears to be a flag - why do i say "appears" - because flags have folds which have a sag at the folds, causing the prices to drift down on decreasing volumes - here the fold of the flag has formed a box like channel - which is not a true flag, but if it manages to break out of it, it can reach the marked levels( targets).
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it has broken out of the upper channel ( fold of flag) - it went up to 4600. keep watching. Today was earnings release
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From 4184 to 4689...that is a good move...and still has fire...today up 6.4%
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Target achieved.
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Like i said it still has fire....CMP 5053..anyone who thought long term would have made good money...when i posted it ( June 24) it was at 4184...869 Rs...even if you had bought 20 shares only at 4184....it would have become 17K+ today
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It does not seem to stop...CMP 6231 right now