Larsen & Toubro Limited (LT) Stock - Complete Technical Analysis - Dec 12, 2024

Larsen & Toubro Stock Analysis - Key Support & Resistance Levels for Traders Dec 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 (LT) has shown consistent upward movement with a strong momentum, supported by a positive MACD and RSI readings. The stock closed at 3,859.90 on Dec 12, 2024, just below its 52-week high, with an impressive price-to-earnings ratio of 54.6. The stock has been trending higher, reflecting investor confidence in the companys growth prospects. The moving averages and momentum indicators like the Awesome Oscillator confirm a bullish outlook, while the recent stochastic RSI shows no signs of overbought conditions.

The support at 3,835 is crucial, and if the stock holds above this level, it is likely to continue the upward trend. On the resistance side, the stock has struggled to break past the 3,963 mark, which remains a key level to watch. Given the average true range and recent volatility, traders should be prepared for price swings, with a potential retracement to the 3,8003,830 range if the stock fails to maintain strength above the support levels.

The stock has recently approached its 52-week high, suggesting that it could either consolidate at these levels or break out. A breakout above 3,963 would potentially lead the stock to target higher levels in the near term. However, caution is advised if the price moves below 3,835, as this could signal a reversal toward lower levels. In conclusion, LT remains a strong candidate for traders looking to ride the bullish trend, but key technical levels should be watched closely for potential price action.