ASHOK LEYLAND ---INTRADAY SETUP - 07/01/2022

ASHOK LEYLAND is pick of intraday as on 07/01/2022 due to Bullish technical indications. one can buy on intraday deep at morning session 1st 1 hour
at 131-132 level .. nifty likely open some gap down. recently trendline breakout seen on 15 min chart where stock bounce back from its strong support zone as well as golden crossover of 20,50,200 SMA alo seen on chart..stock has form w pattern which is also bullish indicator.

BUY ASHOK LEYALAND @ 131-132

INTRADAY TARGET 134-135

STOP LOSS 128.50


>> Please do own study and analysis this idea can helpful for same...take call at own risk. !!

WISH YOU HAPPY TRADING. !

Comment:

Educational TIP : Its always better to watch market atleast 15 min After market open
then take position ..if you can read candle its better because first 15 min candle can show the overall trend of market rest of day. !!

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Market look like open flat today .!!

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market opening positive to flat so change my strategy from buy on deep to buy cmp 132...

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i place my buy order around 132-132.50.

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BUY ORDER EXECUTED 132.50

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market at alerady gap 100 points so part part profit booking strategy apply ..partly profit book at 132.80.

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EDUCATIONAL TIP -- its always better to book part profit in intraday when market open gap..becouse ATR is low in that case ..some fall from high point can correct stock sharply..so marginal profit booking strategy is beneficial in gap up market. !!

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intraday double bottom formation at 131.60 seen on chart. !!

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End up with marginal profit at Ashok leyland on intraday. but Devyani international positional trade book 15-20% PROFIT today. ! so overall HAPPY TRADING. !!