Tracking Larsen & Toubro(L & T)

EOD 17-06-2013

EOD 7.6.2013:
In the previous update I had mentioned 1675 as an Important price threshold and the last chart posted was this:

Update:

The high reached was 1652 and drop from there didnot stop at CD=AB=219 but continued to do CD=1.27*AB=1375.

Now what??

Weekly Linear chart below illustrates the crucial position at which we are:

Thus on lower side we are resting on an important trendline--- 1305-1325 zone is a historical support area.

Now coming to our small degree Hour Chart:

 So the current bounce from 1375 should take us minimum to 1481-- next crucial price-point is 1530.
And the breach upward or repulse from these two price-points --1480 & 1532--are going to decide which of the following two patterns would be followed:

EOD 17-05-2013:
An old favorite stock of mine but keeps on playing hide & seek with me as I too keep on trying all my tools on it.
I would start tracking it from April 10 when I had posted the following chart on my timeline in FB:
LT as on April 10,2013

And the same has been recorded in my diary as follows (dt 9.4.13-EOD)

And its rise was anticipated in following form:

And till 18-4-2013(EOD) when the above depicted wolfe wave(in RED) and Harmonic Shark(in white) targets were met,I squared off my longs as Andrews Pitchfork's median was also tested.

But shorting opportunity was not ripe as no negative divergence was visible despite first upside targets getting hit.
Sitting on cash was getting hard by the day when on 26.4.2013 I got the opportunity to short:
(it was shared on this blog also -- see link  LnT on 26.4.2013)

It did fall to levels of 1481 but didnot go to 1430 as was anticipated by Shark patterns follow-through:
Chart as on 30.4.13

And as the Stop-loss for shorts got hit, I had a quick relook on Charts and came up with following on 02-05-2013(EOD):

And today on Sunday dt.19.05-2013 as we are on  threshold of testing the abovementioned targets:
Daily Chart

Weekly Chart:

We are at the threshold of an important trendline and closing above 1675  would set up for new target of upto 2070

1720-1730 zone though would offer considerable resistance and a dip may be expected from there, if not from 1670-1675 levels.