Vashisht_CFTe
Short

ASHOKLEY (BEAR, SHORT TERM)

NSE:ASHOKLEY   ASHOK LEYLAND
SHORT
CMP 104.4
TARGET 102.10
SL 106.20
REWARD:RISK = 1.4
Trade active
Trade closed: target reached
What is criteria ?
Reply
@vdchopra, Hello. The Bigger trend is obviously down as you can see in daily and weekly charts. On weekly chart we have already completed a clear head and shoulders.
The smaller time frame (60min) in which the idea is posted shows a lower top formation and a potential head and shoulders and the candle on 21 December 3 pm clearly shows a long wick on upside meaning rejection on upper levels. All these things make it a trade worth taking. I am attaching the picture of weekly chart and 60 min chart:-

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Vashisht_CFTe Vashisht_CFTe
@Vashisht_CFTe, I hope i was able to explain my view
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