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ashishhc
Nov 8, 2023 10:04 AM

Ashok Leyland possible 10% upside Long

NSE:ASHOKLEY120
ASHOK LEYLANDNSE

Description

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Ashok Leyland has formed inverted head & shoulder pattern. 10% upside is possible if breaks above trendline.

Trade active

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Approaching well

Comment

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Good 4-5% move today.

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Good 1.4% move today. 181.5 now

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should sustain above 176 today and then it will be ready for next move.

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Absorbed all the selling pressure and sustaining on the levels. Keep holding.

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Nice mini head & shoulder pattern formed in 5mnt TF. It is ready to blast soon.....

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bit dull these days but might take the momentum soon.

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Move has started today.

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nearly there to the target.

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Brekout has already done. now scenario is bit changed Now target can be nearly double.

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on track. blast. Move trailing SL to 177

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Bang on the target.

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Trade active

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Trail SL to 200-205. Wait for the target 218

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This post moved here. Please follow. Because this is bit old post. i posted new one with fresh analysis.

Head and Shoulders
Comments
ChiragMAmbani
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no way it shud b called Inv H&S pattern... trade on TRENDLINE BO or maybe a retest, maybe. bt no 2nd opinion on INV H&S
ashishhc
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@ChiragMAmbani, these are modern patterns. Forget the traditional things. All knows it sir now a days.
chinna6674
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Tomorrow 185??
ashishhc
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@chinna6674, Nop, cant say anything now. Reason is there is profit booking in whole auto sector in these days. must go up soon. It should close above 175 first then we can expect upside in upcoming days. It is retesting the trend line again. But this is the strongest stock in my radar as it has monthly breakout retested too. Dont exit till it breaks 170 on downside.
Kapil-Mittal
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Traders should look for a significant increase in volume as a confirmation of the breakout. Keep an eye on the trendline and be prepared to act if the breakout occurs.
ashishhc
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@Kapil-Mittal, today is the day
blissfulOwl5007
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what to do now @210 , view tgt ?
ashishhc
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@blissfulOwl5007, Trail SL to 200. Then every 5 point move just keep trailing.
ashishhc
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@ashishhc, Check the update above. ignore the big red candle today. which was testing session error today.
ashishhc
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@ashishhc, Follow this post also for IEX. today 8% gained after given at 142 Levels.

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