This is a trend-following setup on LT (Larsen & Toubro) where we’ve observed a clear repeating pattern of Impulse → Correction → Impulse. The recent price action suggests that the latest correction has matured, and the structure now hints at a potential next impulse wave beginning.
Here’s the thought process behind the setup:
✅ The stock has been trending upward in a clean impulse-correction rhythm.
🕒 We waited patiently for the correction phase to develop fully and mature.
🔄 A Break of Structure occurred, signaling potential trend continuation.
🔁 Retest on support zones further strengthens the bullish case.
🧭 Support zones are drawn from the Daily chart for precision, though this post is based on the Weekly timeframe for broader trend visibility.
🛡️ Stop-loss can be maintained near ₹3141, just below key support.
🎯 Target is based on a 1:2 Risk-to-Reward setup, aligning with disciplined trading strategy.
Overall, this is a classic example of waiting for confirmation after correction before re-entering in the direction of the dominant trend.
As always, risk management is key. Watch how price behaves around the recent structure and support zones for validation.
Here’s the thought process behind the setup:
✅ The stock has been trending upward in a clean impulse-correction rhythm.
🕒 We waited patiently for the correction phase to develop fully and mature.
🔄 A Break of Structure occurred, signaling potential trend continuation.
🔁 Retest on support zones further strengthens the bullish case.
🧭 Support zones are drawn from the Daily chart for precision, though this post is based on the Weekly timeframe for broader trend visibility.
🛡️ Stop-loss can be maintained near ₹3141, just below key support.
🎯 Target is based on a 1:2 Risk-to-Reward setup, aligning with disciplined trading strategy.
Overall, this is a classic example of waiting for confirmation after correction before re-entering in the direction of the dominant trend.
As always, risk management is key. Watch how price behaves around the recent structure and support zones for validation.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.