30Oct

Larsen & Toubro Stock Elliott Wave Technical Analysis: Covering Current Trends, Wave Counts, and Potential Price targets

LARSEN & TOUBRO – LT Elliott Wave Analysis (1D Chart)

LT Elliott Wave Technical Analysis

Function: Counter Trend (Intermediate degree, orange)

Mode: Corrective

Structure: Impulse, within larger Wave (A)

Position: Minor Wave 3 Grey

Details: Minor Wave 3 Grey is moving lower, positioned against the 3930 mark.

Invalidation Point: 3930

Larsen & Toubro Daily Chart Technical Analysis and Potential Elliott Wave Counts

The daily chart for Larsen & Toubro suggests a developing counter trend at the Minor degree, notably against the 3930 high. The Intermediate Wave (5) in Orange seems to have culminated near the 3930 mark, potentially signaling the end of a multiyear upward movement.

In June 2022, the stock declined to approximately 1450, marking the beginning of Intermediate Wave (5) Orange. Bullish momentum carried the stock upward, resulting in an impulse that peaked around 3930 on June 03, 2024.

From that point, prices started a downtrend, breaking below 3180—marked as Minor Wave 1 in the larger corrective wave. Minor Wave 2 saw a recovery up to 3840, followed by a renewed downturn. A dip beneath the 3180-3190 range could indicate a deeper correction.

 

Larsen-&-Torbro-1D-S...


LARSEN & TOUBRO – LT (4H Chart) Elliott Wave Technical Analysis

Function: Counter Trend (Intermediate degree, orange)

Mode: Corrective

Structure: Impulse, within larger Wave (A)

Position: Minor Wave 3 Grey

Details: Minor Wave 3 Grey is trending downward against the 3930 high. Ideally, prices should remain below the 3840 level, where Minor Wave 2 terminated.

Invalidation Point: 3930

Larsen & Toubro 4H Chart Technical Analysis and Potential Elliott Wave Counts

The 4-hour chart for Larsen & Toubro provides insight into the progression of sub-waves within Minor Wave 3 Grey, which reached near the 3750 mark before a retracement. Minor Wave 4 Grey completed as a combination pattern, while Minor Wave 5 was relatively shallow, terminating around 3930. From this point, a larger corrective wave has likely begun, with Minor Wave 1 and 2 forming near 3200 and 3840, respectively. Minor Wave 3 continues moving lower.

Technical Analyst: Harsh Japee

Source: visit Tradinglounge.com and learn From the Experts Join TradingLounge Here 

Previous: HDFC Life Insurance Elliott Wave Technical Analysis

VALUE Offer - Buy 1 Month & Get 3 Months!Click here

Access 7 Analysts Over 200 Markets Covered. Chat Room With Support

Larsen-&-Torbro-4h-S...


Conclusion:

Larsen & Toubro is currently in a downward trend within Minor Wave 3 Grey, positioned below the 3930 high.

Related

Elliott Wave Analysis and Trading Strategies: SP500, NASDAQ 100, DAX 40, FTSE 100, ASX 200

Elliott Wave Analysis and Trading Strategies: SP500, NASDAQ 100, DAX 40, FTSE 100, ASX 200

The S&P 500 (SPX) and NASDAQ 100 (NDX) are tracking two key Elliott Wave patterns: (1) Wave 4 may ha...

Read More >
Navigating Uptrend Opportunities: Theta Token/ U.S. dollar(THETAUSD) Elliott Wave Analysis

Navigating Uptrend Opportunities: Theta Token/ U.S. dollar(THETAUSD) Elliott Wave Analysis

Our Elliott Wave analysis of THETAUSD suggests a bullish outlook as of February 20, 2024. Both daily...

Read More >
Netflix Inc. (NFLX) Stock Elliott Wave Analysis: ZigZag Correction Near Support, Wave C Bottom Forming, Potential Bullish Wave (5) Ahead

Netflix Inc. (NFLX) Stock Elliott Wave Analysis: ZigZag Correction Near Support, Wave C Bottom Forming, Potential Bullish Wave (5) Ahead

Netflix stock (NFLX) through detailed Elliott Wave analysis. Identify the current corrective ZigZag ...

Read More >
Unlocking ASX Trading Success: MINERAL RESOURCES LIMITED – MIN Stock Analysis & Elliott Wave Technical Forecast

Unlocking ASX Trading Success: MINERAL RESOURCES LIMITED – MIN Stock Analysis & Elliott Wave Technical Forecast

This detailed analysis of MINERAL RESOURCES LIMITED (MIN) on the Australian Stock Exchange (ASX) app...

Read More >
Ultimate Commodity Market Elliott Wave Guide: Bitcoin, Ethereum, Gold & More

Ultimate Commodity Market Elliott Wave Guide: Bitcoin, Ethereum, Gold & More

Commodity Market Elliott Wave Analysis for Bitcoin (BTC), Ether ETH/USD, Crypto Index, TLT Bonds, US...

Read More >
BTCUSD Elliott Wave analysis: Insights into Bitcoin's Wave Count, Potential Trend Reversals, and Price Movement Forecasts

BTCUSD Elliott Wave analysis: Insights into Bitcoin's Wave Count, Potential Trend Reversals, and Price Movement Forecasts

This article provides a detailed BTCUSD Elliott Wave analysis, focusing on Bitcoin's current mar...

Read More >

$1 for 2 Weeks

then $29 a month!

What a Special Offer!

Trade Recommendations

Unleash the power of deversified trading with our comprehensive portfolio, covering 250+ markets:

  • Stock Trades
  • Crypto Trades
  • Forex Trades
  • Commodity Trades
Elliott Wave Analysis

Gain a competitive edge with expert insights and AI-powered Elliott Wave charting into:

  • Global Indices
  • US Stocks & ASX Stocks
  • Forex & Crypto
  • Commodities
Top-Notch Trading Tools

Equip yourself with the tools of success:

  • Real-time Chat rooms
  • Elliott Wave Algorithm
  • Portfolio tools
  • TradingLevels
  • Screener
  • Trading Game
7 Elliott Wave Analysts

Stay ahead of the market with daily charts and insightful videos
Your secret to strategic trading!

JOIN HERE


Welcome to TradingLounge (ASIC A.R.No. 321187), specialists in trades, trading education and technical analysis, covering stocks, indices, commodities, forex and cryptocurrencies.

When you join TradingLounge you have access to everything we offer, including trade tools, educational content and a social platform to chat with like-minded investors.

Read more

@Copyright 2024 by tradinglounge.com

Contact Us

Australian no: 02 4787 6020

International no: +61 (2) 47876020

Pay with:

Find us on