Technical Analysis of LT FOODS LTD (NSE)
Short-Term View:
Current Price: ₹367.60
Support Levels: ₹364, ₹360
Resistance Levels: ₹372, ₹376
RSI (Relative Strength Index): 37.47 (indicating oversold or weak momentum)
Trend: The price action shows consolidation with slight bearish momentum, suggesting limited upside in the immediate term unless a breakout occurs above resistance.
Long-Term View:
Major Support: ₹350
Major Resistance: ₹388 - ₹400
Trend: The overall trend remains bullish in the long term, provided ₹350 holds as support. A breakout above ₹388 can trigger further rally towards ₹420 levels.
Trading Strategy:
Long Position: If price sustains above ₹372, then buy with a target of ₹380 - ₹388.
Short Position: If price breaks below ₹364, then sell with a target of ₹355.
Stop Loss:
For Longs: ₹360
For Shorts: ₹374
Conclusion:
The stock is in a consolidation phase with a mild bearish bias.
A breakout above ₹372 can trigger fresh buying.
RSI suggests weak momentum but a reversal could occur if the price holds above the support.
Keep an eye on volume and breakout levels for confirmation.
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