praveen.bhatiya

Inverted 3LR Pattern/RSI

Long
NSE:ASHOKLEY   ASHOK LEYLAND
If the risk to reward ratio of 3 suits, one can consider shorting the stock at current level with the SL of recent high for a target of 150.50. Reasons
1. Inverted 3LR pattern
2. RSI coming below from overbought
3. Small risk Trade

Disclaimer : All ideas and comments are my personnel view. Please take financial consultancy for trading decision.
Comment: Please ignore the mistake in title and read it as an idea to Short the stock. Thanks to @nisarnadaf to bring to my notice.
Trade active
Trade closed: target reached: Great stress free trade.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.