ASHOK LEYLAND - TRADE OUTSIDE THE RANGE WITH PROPER BREAKOUT WITH VOLUME AND PULLBACK
ASHOK LEYLAND IS UNABKE TO BREAK 72 LEVELS SO MAYBE THIS TIME IT CAN SHOW A GOOD UPSIDE
ASHOK LEYLAND IN TIGHT RANGE BUT STAYING ABOVE 50 MA...EXPECTING HIGH PRICES IN COMING DAYS IF SUSTAINS THIS AREA
Even though Ashok Leyland doesn't fit our investing framework, posting this in case it will be useful for already invested investors
Ashok Leyland appears to have completed a diagonal which is v close to weekly ichimoku resistance. A retest of 78-75 could be possible if it were to sustain below 89. Q3 results are expected on Feb 13
IT IS TAKING RESISTANCE ON FIBONACCI`S 50 % LEVEL PLUS BULLISH DIVERGENCE SEEN WITH STOCHASTICS AND IT IS CONSOLIDATING UNDER TRENDLINES IF UPPER LINE IS BROKEN IN 15 MINUTE CANDLE TARGET FOR LONG IS 81 IF BREAKS LOWER TRENDLINE GO SHORT AND REST DEPENDS ON RESULT DUE TOMORROW GOOD LUCK
Breakout OR Breakdown, Lets watch
Will it land on the demand zone between 82 - 76 ?
It seems one frame completed..other new 5 wave count might started..!! Appreciate comments or views.
Could breakdown to 90 levels or low on a weekly chart. I believe, a close below 100 with volumes would be a confirmation.
price at an interesting level + also showing a descending triangle pattern.
ASHOKLEY forming a Head & Shoulder Pattern on Weekly Basis . It just took a rejection from its Neck Line area, which is really a very crucial level for the stock. Closing below the NECK LINE may open further downside for the stock. 100 is a very big support level for this stock physiologically, if stock gives a closing below it's Neck Line may take it to 100...
There is ascending triangle formation on weekly chart which show continuation of the rally.
Currently at support level. As long as this level holds, some upmove can be seen.