iCharts Discussions

[rocky1980]

Watch out for Lanco Infra Close over 61 - - - tgt 70-84 short term -

[fanatictrader]

Bro, first of all we need to understand that Inverse H&S is revrsal pattern. It is more powerful if it happens after decline over long period.

Lanco Infra has been in Uptrend since Feb-Mar 2009 and continue to do so even with minor correction in Jan-Feb 2010 where price of LITL fell from 60 odd level to 40.

Lanco Infra is fast losing out steam. Volumes are dried up and there is clear negative divergance of RSI. if LITL manages to close above 60 with strong volumes and RSI also make new high then we can be sure of some more upmove, otherwise 60.5 level remains crucial resistance.

[rocky1980]

Hi,

As suggested buy @ 57 levels with stoploss of 54 - the stock has moved up and with good volumes and currently trading at 52 week high - the H & S breached. Good return in span of less than 15 days - from 57 to 65 - almost 12% hope u all enjoyed the profits.

Regards
Rahul G Thakore