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
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
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...!!!
The idea was above 112 Ashok Leyland will attempt to re-test the trend line...
That's what the stock has done...
Happy trading...!!!
