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LANCO INFRATECH Ltd (LITL) -- Technical Analysis -- 100% accuracy
 

Posted by admin on

December 27, 2015

LANCO INFRATECH Ltd (LITL) — INDIA STOCK

The report below was written on 27th Dec 2015.  Please note the below “technical analysis” has to be revisited at least weekly twice to see where stock stands.

LITL closed at 6.00 rupees on 24th Dec 2015. News is that company has returned to profit after 3 years of losses. Here is the link of the article

http://www.moneycontrol.com/news/buzzingstocks/lanco-infra20-as-co-turns-corner-after-3-yrslosses_4302041.html

 

From a technical perspective, here is the trend picture.

SHORT TERM trend – UP

MEDIUM TERM trend – NEUTRAL

LONG TERM trend – DOWN

 

BULLISH SCENARIO – If it clears 6.4 convincingly, expect the next target to be 7 to 7.4 within 1 month time frame. “Solid resistance” is there & that is the reason it pulled back from there, after touching 7.4 in Nov 2015. If it clears 7.4 clearly, expect next target of around 10 in next 2-3 months

 

BEARISH SCENARIO – If it fails to clear 7 to 7.4 in next few months, it will be IMO negative for the stock. If it goes below 5.4 in next 1-2 weeks that will be a negative for the stock.

 

CONCLUSION: Ideally, I will be a buyer of this stock beyond 7.5, as the bulk of sharp move has happened from 3.25 to 7 rupees in last 3 months. Right now it’s in consolidating mode after more than 100% move in just 3 months. Real test for this stock is around the corner. For the immediate short term, one can buy above 6.4 with stop loss of 5.9; for a target of 7 to 7.4 within 1 month time frame.

 

Thanks & God Bless !

Koomar Tenkayala

 

UPDATE : How did my analysis perform ? — 100% Accuracy

After my article the bullish scenario played out & 1st main target of 7.4 got hit in a week . 6.4 to 7.4 in a week (almost 15% return) . Then, as mentioned in the article serious resistance kicked in & although it tried to go beyond 7.5 couple of times , it failed as it was false breakout. That is the whole reason I mentioned in the article, the technical analysis has to be revisited at least twice weekly. One should be really careful not to get trapped with false breakouts.  

 

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