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oyesindhi
Nov 10, 2019 5:59 AM

ASHOK LEYLAND: HEAD & SHOULDERS PATTERN! Short

ASHOK LEYLANDNSE

Description

NSE: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.

Trade closed: stop reached

Opened gap down and went day highs. SL.
Comments
UnknownUnicorn2321966
69 only it should go near 59 :)
oyesindhi
@TUSHARINTRINSIC, Definitely brother. I'm new at keeping targets as of now so I assume a 10% for now. if it opens gap down, will trail the SL and keep the target open. How's that?
UnknownUnicorn2321966
@yesiamskinni, i bought put just before market close at 3.29 pm i am excited :)
oyesindhi
@TUSHARINTRINSIC, All the best. May you be blessed with big profits!! ₹₹₹₹₹
UnknownUnicorn2321966
@yesiamskinni, THANKS ALOT
UnknownUnicorn2321966
@yesiamskinni, HEY I AM GLAD I EXITED MY POSITION OF PUT WHEN MARKET OPENED MADE ONLY 3K IF I HAD NOT EXITED WOULD HAVE MADE 13K LOSS
oyesindhi
@TUSHARINTRINSIC, Yes. Proper exits are more important than anything else. Keep up good work brother :)
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