LT has given a break out from Consolidation after a long time, the stock is giving a negative Divergence which means the stock could correct a bit before hitting the mark. The target should be achieved within 15 days time as well.
The Possible target for the stock is Rs. 1940 and the stop loss for the stock is Rs. 1620 on daily closing basis. I know after such a long run further run up for the stock is not a easily digestible but we can see the likes of Jubiliant food works, Wockhardt and Bata performing outstandingly in an uptrend.
On the weekly charts as well the break out has happened after a long consolidation and the break out has been with pretty good volumes, which indicates that the run up could happen for real.
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