Ashoklayland on positiveI can go upto 95 if breaks above 85. RSI and MACD should be strengthen to take an entry...
Ashok
ASHOK LEYLAND NSE : LONG FormationASHOk LEYLAND NSE : LONG Formation
Accumulate : 90 , 95
Upside T : 100, 107 ,114 , 118
Ashok Leyland1) Head & shoulder on all time high
2) RSI oversold
3) CNX Auto at 52 wk low
4) Though volume no are good in CV side but price is not reflecting it --- are missing something? Are at peak of earning cycle or derating due to change in cost of capital
5) If crude goes upto 90-100$/bbl and INR to 80 then only stock can be shorted
5) In my view stock likely to bounce back rather than falling INR 50 ie around 40% as per H&S theory
Ashok Leyland1) Head & SHoulder pattern
2) Stock has been into consolidation despite showing good volumes every month
3) It shall break the resistance of 135 in coming earning season
Ashok Leylond Long...
ASHOKLEY break the previous trend Keep watching the retest zone
If it does not break down. Trade Long...
ENTRY 129 to 132
Disclaimer:
The information contained in this presentation is solely for educational purposes. Does do not constitute investment advice. I may or I may not take the trade.
The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable for your own financial situation.
I am not responsible for any liabilities arising from the result of your market involvement or individual trade activities.
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Study Material on TrendsHere we discuss about trends according to DOW theory. May its useful for some one who are looking for some example.
Ashok Leyland symmetric triangle patternA symmetric triangle pattern has been observed since Dec 2016.
Do trade in the direction of breakout. I will keep you posted and inform you once the trade is active with target and SL
