dvpk1968

Ashok-Leyland Reached Lifetime High

Short
dvpk1968 Updated   
NSE:ASHOKLEY   ASHOK LEYLAND
1. Ashok Leyland is at its lifetime high and going by trend analysis, it is trading within the channel for a long time. if the channel is respected then we expect a significant pullback towards lowered of the channel. We can also see a very good monthly and weekly demand at around 124-levels. Hence in next few months the stock is expected to move down to around 124 - 130 price levels.

2. Once can short the call in futures and hedge it using Call option @155 (calculate top find exact number of call positions required to hedge the position)

Trade closed: target reached: now it is entering a demand level in 240 mins, so expecting a bounce of 5-6 points before falling again
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