Ashok Leyland – Topped out?

This stock has been in a major uptrend since December last year.

After a long stretch of upmove, time seems to be ripe for Investors to start booking profits in this stock.

I can see an indication of profit booking commencing from the Negative Divergence and large Bearish Candle that it formed today.

Went short here with a stop loss above 169 for a target near 150 levels.

(However, one has to watch out for Result on May 18.)

Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice.
Please consult your Financial Advisor for any investments.


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