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We have Zeroed on to the stock which has not made much movement despite Nifty hitting the 8000+ mark and it comes from a reputed company stable. Seeing the chart it shows a lot off whipsaws which can confuse any novice trader.
As we can see in above chart that L&T Finance has built a double bottom formation and has given signal of further rise to 73 and thus it makes sense to be long in the stock with stop loss as 69.5. All those looking for deep stop loss can consider it having it as 67.40 and can see it achieving the levels of 71.3,73 & finally 82,90 levels. One can short the stock on break of 67.4 level as then it can tgt 60 level.
Just note that the stock has to make a definitive break through of one of these levels to proceed towards the recommended levels. We see that volumes show that stock is evincing interest.
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