F&O Radar | Deploy Bear Put Spread in LTIM stock to benefit from bearish market sentiment
LTIMindtree (LTIM) are currently trading at Rs 5,943, reflecting a short-term downtrend after pulling back from higher levels.
A bearish double top pattern has formed on the daily chart, and the price has broken below a rising trend line, signaling a potential breakdown and further downside risk.
“A sustained move below the critical Rs 6000 level could trigger increased selling pressure, potentially driving the stock towards its lower support zones at Rs 5,650- Rs 5,500,” said Mandar Bhojane, Equity Research Analyst at Choice Broking.
The Relative Strength Index (RSI) is at 37.56 and trending downward, indicating weakening momentum and a growing bearish sentiment. Additionally, LTIM is trading below its key short-term (20-day) and medium-term (50-day) exponential moving averages (EMAs), reinforcing the negative outlook.
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