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vaibhavmehta611

SHORT TERM IDEA - ASHOKLEYLAND (RESISTANCE ACTING AS SUPPORT)

Long
ASHOK LEYLAND (NSE:ASHOKLEY)  
vaibhavmehta611 Updated   
NSE:ASHOKLEY   ASHOK LEYLAND
Chart Patterns swing Exponential Moving Average (EMA) Support and Resistance pullback
9
4
chartpattern swing ema supportandresistance pullback
Price Broke out of the resistance/supply zone and gave a pullback, the price has taken support at the confluence of the previous resistance zone (which is now acting as support/demand zone) and 20 day EMA, above 93.20 can go upto 98-100 and above that can go upto 110, SL below 86 on daily closing basis, Also keep an eye on the sales numbers to be declared for november.
Disclaimer : For learning purpose only.
Comment:
Trade is active and going as per plan once the first target is achieved we trail the SL to 20 EMA on closing basis
Comment:
Finally this has hit our first target, keep on holding and move the sl above cost and trail profits with 9 day EMA
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