When was the last time you heard anybody discussing L&T stock in depth?
Well, that's what strong Bull market does. It abandons the stock that's not making a strong bullish move. It's amazing that L&T is still trading near all-time high despite all the negatives and lack of energy.
Three Simple Observations:
1. L&T stock is up 77% since Feb low of 2016 (When Nifty was at 6900 - Nifty is up 50% since then)
2. L&T stock still has not cleared all-time high resistance of 2015
3. L&T stock is up just 22% above 2008 highs
L&T stock has made lots of progress since 2016 low but it's more because it corrected a lot during July2015-Feb 2016 phase. Nobody can dispute that there is lack of excitement around the stock. We cannot blame the market when the leadership sounds like this
Science of Stock Price Action
Investment Opportunity in L&T - This is one Investment signal that L&T gave in 2017 and resulted in returns of 44%
If you find Price Action fascinating - then Science of Stock Price is a good place to start. It's a website designed to help you learn various Price Action concepts.
Disclaimer – The state of the market notes is Deepak’s perspective on the market. The column is purely for educational purpose. Nothing contained herein is a solicitation to trade or a recommendation of a specific trade. By reading this publication you agree to make no trade relying in whole or in part on the comments of the writers