Larsen & Toubro Limited Stock Forecast
Red day on Friday for Larsen & Toubro Limited stock after losing 0.147%
(Updated on May 10, 2024)
The Larsen & Toubro Limited stock price fell by -0.147% on the last day (Friday, 10th May 2024) from ₹3,276.15 to ₹3,271.35. During the last trading day the stock fluctuated 2.18% from a day low at ₹3,235.15 to a day high of ₹3,305.80. The price has fallen in 7 of the last 10 days and is down by -10.39% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -102 thousand shares and in total, 244 thousand shares were bought and sold for approximately ₹797.24 million.
Given the current short-term trend, the stock is expected to rise 4.60% during the next 3 months and, with a 90% probability hold a price between ₹3,421.97 and ₹4,092.52 at the end of this 3-month period.
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LT.BO Signals & Forecast
There are few to no technical positive signals at the moment. The Larsen & Toubro Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at ₹3,432.04 and ₹3,607.29. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 01, 2024, and so far it has fallen -14.74%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Larsen & Toubro Limited stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved ₹70.65 between high and low, or 2.18%. For the last week, the stock has had daily average volatility of 2.93%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (LT.BO) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Larsen & Toubro Limited to open at ₹3,270.77, and during the day (based on 14 day Average True Range), to move between ₹3,181.51 and ₹3,361.19, which gives a possible trading interval of +/-₹89.84 (+/-2.75%) up or down from last closing price. If Larsen & Toubro Limited takes out the full calculated possible swing range there will be an estimated 5.49% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ ₹3,462.10, some ₹190.75 (5.83%) from the current price of ₹3,271.35, our system finds the risk reward not very attractive.
Is Larsen & Toubro Limited stock A Buy?
The Larsen & Toubro Limited stock holds several negative signals and despite the positive trend, we believe Larsen & Toubro Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -4.062 Sell Candidate Unchanged
Predicted Opening Price for Larsen & Toubro Limited of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| ₹3,270.77 ( 0.0178%) | ₹3,271.35 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for LT.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3,341.42 | 2.14 % | |
| R2 | 3,314.43 | 1.32 % | ||
| R1 | 3,297.75 | 0.81 % | ||
| Current price: | 3,271.35 | |||
| Support | S1 | 3,243.78 | -0.84 % | |
| S2 | 3,227.10 | -1.35 % | ||
| S3 | 3,200.12 | -2.18 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3,669.85 | 12.18 % | |
| R2 | 3,643.95 | 11.39 % | ||
| R1 | 3,462.10 | 5.83 % | ||
| Current price | 3,271.35 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
LT Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 02, 2023 | Aug 02, 2023 | Aug 14, 2023 | ₹30.00 | 1.13% |
| 2 | Jul 21, 2022 | Jul 21, 2022 | Aug 08, 2022 | ₹22.00 | 1.20% |
| 3 | Aug 11, 2017 | Aug 11, 2017 | Aug 24, 2017 | ₹14.00 | 1.24% |
| 4 | Aug 18, 2016 | Aug 18, 2016 | Aug 18, 2016 | ₹18.25 | 1.85% |
| 5 | Sep 01, 2015 | Sep 01, 2015 | Sep 01, 2015 | ₹16.25 | 1.56% |
FAQ
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