Technical Pick – L&TFH
• L&TFH is finding support at 160 and resistance above 175. On Daily chart, L&TFH is forming double bottom having neck line breakdown point above 175.
• Daily 14 period RSI has also risen from higher levels to around 45 this could mean Continuation of upside momentum in the stock price ahead possibly a breakdown this time.
• MACD too has given the positive crossover (Buy signal) which indicates that up side seems certain in it.
• 14 Period Exponential average is also indicating the positive momentum in the stock as it has comfortably crossed the average with closing.
• Traders don’t go for aggressive or positional selling at all because trend looks positive and we expect rally to remain continue till 190+++ mark in coming weeks. For positional trade, stop loss seeing below 160 on closing basis which in unlikely to breach in near terms.
Trading Recommendation(18th Dec 2017)
Buy L&TFH above 175 and for the initial upside target of 190+++ mark with stop loss below 160 on closing basis.
More will update soon!!!
