inverted head and shoulders pattern breakout possible
Updated
*stock has created a inverse pattern on daily chart
*on weekly basis currently the stock is trading above the supply zone of 153-154
*if we close above 155 we will confirm pattern break
*it opens up the stock for a positional target of new life-time high
*initiating a positional trade in Ashok Leyland
ASHOK LEYLAND CONDITIONAL BUY
-WAITING FOR A WEEKLY CLOSE ABOVE 155
-OR ONE CAN LOOK TO ENTER OPITONS
ASHOK LEYLAND
BUY@155 (closing basis)
STOP@145
TARGET@165-175-185
DISCLAIMER
-this is my perosnal view
-trade according to your risk appetite
-manage your risk
*on weekly basis currently the stock is trading above the supply zone of 153-154
*if we close above 155 we will confirm pattern break
*it opens up the stock for a positional target of new life-time high
*initiating a positional trade in Ashok Leyland
ASHOK LEYLAND CONDITIONAL BUY
-WAITING FOR A WEEKLY CLOSE ABOVE 155
-OR ONE CAN LOOK TO ENTER OPITONS
ASHOK LEYLAND
BUY@155 (closing basis)
STOP@145
TARGET@165-175-185
DISCLAIMER
-this is my perosnal view
-trade according to your risk appetite
-manage your risk
Note
DAILY CHART UPDATE
Note
:AS EXPECTED WE ARE BATTLING IN THE SUPPLY ZONE
ALL INDICATION OF BULLISH BREAKOUT IS EXPECTED
LET ME REPEAT A CLOSE ABOVE 155 WILL ALLOW STOCK TO FLOW
Note
still testing patience stock yet to close above 155
when does we will initiate longs
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*future calls
*option trading (buying)
*index trading (options and futures)
*index update and oi analysis
t.me/tradersmojo
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