LT . . Too long a correction !

My Blog readers who traded in Gold , Silver and Copper sure must be partying right now!! Commodities are on a roll. Nifty on the other hand seems to be stuck in a range in search of a direction.

One of the few frontline stocks Larsen seems to be finding strong resistance at Rs 1700 levels while support is now important at 1500/-. A break out of this range should only decide the next move (Wow - a great opportunity for derivative traders )



Moreover while the price pattern looks like a triangle - it may not be actually defined as a triangle (Why ? - Think hard)

The charts suggest that upside break out may not give a heavy move but a downside break out can be fast and deep. All investors in the stock - keep SL at 1500/-

Happy trading !

CA Rajiv D Khatlawala
ValueTrade Academy Pvt Ltd.