Larsen & Toubro Limited (LT) Stock - Complete Technical Analysis - Sep 16, 2024

Larsen & Toubro (LT) Stock Analysis: Key Support & Resistance Levels September 2024

Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Investing in stocks involves risks, and it's essential to conduct thorough research or consult with a financial advisor before making investment decisions. Larsen & Toubro Limited, currently trading at 3,662, is positioned 6.57% below its 52-week high and 28.68% above its 52-week low. The technical indicators offer a mixed outlook.

The RSI is in a neutral zone, suggesting neither overbought nor oversold conditions. The MACD, however, indicates bearish momentum, which may point to a potential downward correction or consolidation phase. The Awesome Oscillator further supports this bearish view, while the Stochastic %K and Stochastic RSI show the stock is neither in an overbought nor oversold territory, reflecting a period of relative stability.

The Average Directional Index is low, indicating a weak trend, which aligns with the recent indecisive price action. The patterns suggest that the stock might be in a consolidation phase, with potential for a breakout in either direction.

Support is likely to be found around recent lows and key moving averages. Resistance could be encountered near the recent highs and significant pivot levels. Given the ATR indicates high volatility, traders should be prepared for possible significant price swings. Monitoring these levels closely will help in understanding the stock's next potential move.