YOU DONT SEE RED VOLUME
Q: Larsen and Toubro (L&T) will breakdown even more from here?
A: Yes because L&T's support level is already out of the way, which was Rs 880-890. It bounced from those levels for few days. It has already broken that. There is nothing to hold it till Rs 690-700. Today, the trade is that if one get a bounce, sell into that strength. The intermediate charts for L&T are heading down. However, when one takes day trades or swing trades and go with the larger trend, the chances of making money are much stronger. Therefore, for L&T, one should not think of catching those falling knives. It is going much lower, look to short it. If one gets a rally then that is much better.