Ashok Leyland view
Updated
Ashok Leyland
CMP 109.7
Last time when the stock was at 112 we had a bullish view for target of 128 / 133.
Link to previous update
https://in.tradingview.com/chart/ASHOKLEY/gOOLgpAl-Ashok-Leyland-In-Accumulation-zone/
Well the stock made a high of 133.80 and now is back again at those levels of 112-108. However this time we have a different story here... The price action has broken blue channel and also below the green support line...
Staying below the green line will increase the probability to re test 98-96 zone on the lower side...
One may consider to sell at cmp for target of 102 / 98
with stop at 113
___________________________________________________________________________________
One may consider to buy only if stock is decisively closing above 112 for initial target of 118...
Take care & safe trading...!!!
CMP 109.7
Last time when the stock was at 112 we had a bullish view for target of 128 / 133.
Link to previous update
https://in.tradingview.com/chart/ASHOKLEY/gOOLgpAl-Ashok-Leyland-In-Accumulation-zone/
Well the stock made a high of 133.80 and now is back again at those levels of 112-108. However this time we have a different story here... The price action has broken blue channel and also below the green support line...
Staying below the green line will increase the probability to re test 98-96 zone on the lower side...
One may consider to sell at cmp for target of 102 / 98
with stop at 113
___________________________________________________________________________________
One may consider to buy only if stock is decisively closing above 112 for initial target of 118...
Take care & safe trading...!!!
Trade closed: target reached
Target of 118 achieved...The idea was above 112 Ashok Leyland will attempt to re-test the trend line...
That's what the stock has done...
Happy trading...!!!
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.