NSE:ASHOKLEY   ASHOK LEYLAND
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...!!!



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...

snapshot


Happy trading...!!!
nice analysis..thnx
Reply
indiamarketoutlook Religare-Begusarai
@Religare-Begusarai, thanks for the appreciation...

hope it helps :-)

happy trading...!!!
+1 Reply
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