ASHOK LEYLAND: HEAD & SHOULDERS PATTERN!

Nov 10, 2019

ASHOKLEY

HEAD & SHOULDERS PATTERN IN ASHOK LEYLAND

75-80 IS THE IMMEDIATE SUPPORT ZONE. IF SUSTAINS ABOVE 80 IN NOVEMBER THEN WE CAN SAY THAT THE TREND HAS CHANGED IN LONG TERM. OTHERWISE THE RALLY SHOULD CONTINUE DOWNWARDS.

* BEARISH DIVERGENCE OVER PAST FEW DAYS NOW. SO THAT WILL HELP TOO.

* IF IT SUSTAINS BELOW 75 OR OPENS GAP DOWN IN NEXT SESSIONS, DOWNSIDE TILL 69 IS EXPECTED.

* MOST IMPORTANT THING TO HAVE DIRECT IMPACT IS RESULTS. RESULTS ARE REALLY BAD. 93% DECLINE IN PROFITS YOY. SO WE CAN CATCH A BIG MOVE HERE.

Nov 11, 2019

Trade closed: stop reached

Opened gap down and went day highs. SL.