raj_rishav

AshokLeyland - Price Action

Long
NSE:ASHOKLEY   ASHOK LEYLAND
The stock has several resistances lying ahead of it & it is sitting at a crucial resistance/support at 51.35.
Positive news:
1. Defense spending
2. Earnings coming up
3. Its British subsidiary made EV Buses delivery for London's equivalent of DTC /BEST; With Delhi's EV policy shaping up + Anti-China sentiments deeply ingrained; it's an Indian front-runner for supply of EV buses! Its a good portfolio pick in my opinion.

Buy above 52 for 52.6, 53.4, 55 with SL at 51.35
Refer the linked Fib levels idea for Fib Retracement levels.

Disclaimer:
These are NOT trading advice!
The intention is to gather feedback on them, so please drop in a comment if you find areas of improvement.
& If the idea makes sense to you - like it & share comments :)
Comment: No trades triggered so far.
Trade active: Buy triggered - Holding overnight positions.
Trade closed: target reached: Not taking risk on volatility after today's earnings release. SBIN & Indigo have satisfied the greed already. Exiting at CMP

Comments

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