LARSEN & TOUBRO Elliott Wave technical analysis

• Function: Bullish Trend.

• Mode: Impulsive.

• Structure: Navy blue wave 1.

• Position: Gray wave 1.

• Direction next lower degrees: Navy blue wave 2.

• Details: Orange wave 4 appears completed; navy blue wave 1 of gray wave 1 is now active.

• Wave cancel invalid level: 2969.

The daily chart of LARSEN & TOUBRO reflects a developing bullish trend based on an impulsive Elliott Wave pattern. The stock has concluded its orange wave 4 correction and moved into navy blue wave 1, which is part of a larger gray wave 1 formation. This early stage of a new impulse wave hints at the potential for an upward move with building momentum in the sessions…