Chart Check: This IT stock in bear grip gave a breakout above 50-DMA; time to buy?

On the weekly charts of LTTS, we can spot prices that have shown a bounce back from the level of 61.8 per cent Fibonacci retracement of the prior advance from Rs 986 (March 2020) to Rs 5,955.50 (January 2022). “On the daily timeframe, we witnessed a breakout from the inverse head and shoulder pattern on 20th July 2022, which is a bullish reversal pattern,” Vidnyan Sawant, AVP – Technical Research, GEPL Capital, said.

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