Kesari-Bath

ASHOKLEY: Target 154

Long
Kesari-Bath Updated   
NSE:ASHOKLEY   ASHOK LEYLAND
ASHOKLEY has taken support at 132 level which was the previous major resistance and also 50% retracement of the recent upmove. On 1-hr chart, there is a clear double bottom formation. I would enter a buy trade with SL below 130 on 1-hr chart and a target of 154.
Comment: I just noticed that the 20-EMA is currently at about 129 and is coinciding with a previous resistance level 129 to 129.50. I would slightly lower my stop-loss to a candle closing below 129, instead of 130. Also, when the price reaches close to 129, I would add to my long position.
Trade closed: stop reached
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