Sinfulguy
Long

Ashok Leyland

NSE:ASHOKLEY   ASHOK LEYLAND
The longer time frames indicate a trend reversal to bearish . For that to happen we need to break the lower support at 105.25 which would send us into 90s fairly quickly.

However, we know that nothing is 100% in technical analysis . So, in case we dont break the support and start a fresh bullish trend , the green lines would act as a good support where positions can be taken for mid to long term investors.

For intraday, a clear break above the orange line could send us to the red line above it which is the next major resistance after the orange line.

This is not a financial advice and strictly for educational purpose
Trade active: Now we have broken down from the short term uptrend channel and started a fresh downtrend which is in lines with longer time frames where we will go bearish with the break of 105.25 support.
Trade active:

Ashok Leyland is a curious case. After breaking down from the downtrend line, it formed a fresh uptrend line and a ascending triangle which could mean a break out in the short term.

However in the long time frames a trend reversal is still in play until we break out of the descending triangle.

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