vaibhavmehta611

SHORT TERM IDEA - ASHOKLEYLAND (RESISTANCE ACTING AS SUPPORT)

Long
NSE:ASHOKLEY   ASHOK LEYLAND
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

Comments

Great. Nice analysis. Into the trade.
Reply
vaibhavmehta611 pratik051288
@pratik051288, Bro if your still into the trade price has hit the first target can trail above cost now and profits with 9 day EMA
Reply
Whats your view based on today's close at 92.65
Reply
vaibhavmehta611 pratik051288
@pratik051288, view still the same with better than expected nov sales nos though the entry level changes to 2 hourly close above today's high
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