praveen.bhatiya
Long

Inverted 3LR Pattern/RSI

NSE:ASHOKLEY   ASHOK LEYLAND
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7
278 8
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.
GR8 analysis, Praveen. Keep it up. Although I was on the wrong side of the trade today and I lost about 3000.
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@apsp1963, Thanks for your nice words and sorry to hear about your losses.
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I think you mentioned LONG instead of SHORT in the title. Anyways thanks for info.
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@nisarnadaf, You are right. It is a big mistake. Thanks for bringing to my notice.
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nisarnadaf praveen.bhatiya
@praveen.bhatiya, No Problem brother... Already short on Ashok leyland :)
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@nisarnadaf, Wishing you best of the luck.
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@nisarnadaf, Enjoy the nice move in the direction of trade :)
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nisarnadaf praveen.bhatiya
@praveen.bhatiya, Thanks buddy! Already enjoying the fall :)
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