| CP# | 115.55 |
| Idea | SELL |
| Sell Range | 121 – 115 |
| Target | 107 – 104.5 |
| StopLoss* | 125 |
| Duration | 15 – 20 Trading Days |
| Potential Return^ | 7 – 10% |
| CP# | Idea | Sell Range | Target | StopLoss* | Duration | Potential Return^ |
| 115.55 | SELL | 121 – 115 | 107 – 104.5 | 125 | 15 – 20 Trading Days | 7 – 10% |
# CP – closing price on Dec 05, 2019
* Maintain recommended StopLoss by daily closing basis.
Once 1st target hit, reset StopLoss at 111.
^ The returns are calculated based on CP#
COMPANY OVERVIEW
L&T Finance Holdings Ltd is a nonbanking financial institution offering a diverse range of financial products and services across corporate, retail, wholesale finance sectors, infrastructure finance sectors, investment management services etc. through its wholly-owned subsidiaries, viz., L&T Finance, L&T Housing Finance, L&T Infrastructure Finance, L&T Investment Management and L&T Capital Markets Ltd. Headquartered in Mumbai, the company has diverse clients which include individual retails, large companies, banks, SME etc. In Q2FY20 the company’s net income was improved by 12% to Rs. 3,611.31 crore and Net Profit dropped by 68.79% YOY to Rs.174.51 crore.
| Stock Data | |
| NSE Code | L&TFH |
| Sectoral Index | Financial Services |
| 52W High | 159.25 |
| 52W Low | 78.6 |
| Face Value | 10 |
TECHNICAL OBSERVATIONS (WEEKLY)
- On a weekly chart, the stock has been trading in a downward sloping channel over the last two years and it seems that it could continue with its ongoing move.
- The long term trend and the broader pattern are bearish and any reactive pullback might be temporary in nature.
- Current price is near the resistance and the past evidence indicating an opportunity for a SELL trade.
TECHNICAL OBSERVATIONS (DAILY)
- The stock has formed Bearish Engulfing candlestick near the top, which is a bearish reversal formation. Usually, this type of candlestick suggests the bear has taken control of a security’s price movement from a bull.
- RSI (14) moves below the horizontal 70 reference line, which is seen to be a potentially bearish setup.
CONCLUSION - L&T Finance SHARE PRICE FORECAST
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A classic Descending Channel formation on L&T Finance Holdings Limited. On top of that, price is just near the Resistance. A perfect selling point with a minimum expected profit of 7-10%.#l&tfh #technicalanalysis #trading #tradingtips #investments https://t.co/3GAtQrFoae
— Goodluck Capital (@CapitalGoodluck) December 6, 2019