praveen.bhatiya

Double Bottom : Good Risk to Reward Trade

Long
NSE:ASHOKLEY   ASHOK LEYLAND
Ashok Leyland has formed double bottom and showing signs of reversal. It has a reasonable PF catching the price frequencies and is available on the LML offering a good entry. It has formed a double bottom with divergence on MACD which is quite reliable setup. Heiken Ashi has turned to Green also. One can buy the stock with the following details
Entry current Price 79,50
SL 77.4
Target 86.25
Risk/Reward Ratio above 3.21

Disclaimer : All ideas are my personnel view. Please take financial consultancy for trading decision.

Trade active
Trade closed manually: Trade closed with reasonable profit but before the target as it was lacking the strength so booked the profit.

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