TREND ANALYSIS & TRADE SETUP
Follow Chart Instruction.
Do not be Hurry for entry.
Wait for Proper Entry Setup.
Buy/Sell with Best Risk Reward.
Educational Chart Only.
June Series Option can be tried.
Wait for entry setup, if available then Long/short.
Reward is 7-8 Times
Note: This is for educational purpose only.
There seems to be a build up near resistance of Ashok Leyland. There is an increase in buying volume and RSI is above 60 which indicates strong bullish momentum. In these cases, once the price breaks resistance, a bullish rally can be expected.
Parallel Channel with volume breakout happening and long future buildup and OI.
Ashok Leyland trading in DECISIVE zone for further direction:
1. up-break with vol. else it will be speculation and dont' go long
2. or follow the parallel channel for correction.
If price is continue to rise with volume follow the price parallel channel , the first target is at...
AS IT POSTED 93 % DECLINE IN SALES YESTERDAY WHICH IS VERY POOR WE CAN EXPECT GOOD CORRECTION MY FIRST TARGET IS 70 THEN FINAL IS GIVEN WITH ARROW GOODLUCK AND ALSO IT TRIED TO CROSS 50% LEVEL OF FIBONACCI BUT MADE REJECTION DOJI CANDLE AND CLOSED BELOW THAT LEVEL THIS IS ALSO GOOD CONFIRMATION AS MANY STOCKS CORRECT OR BOUNCE OFF THIS LEVEL AND THIS LEVEL SHOULD...
As Ashok Leyland has recently broke long term major support of Rs 80/-, the long term downtrend is triggered.
Line is Red is stop loss and black line is targets. Thin black line are intermediate support and thick black lines are major support.
Trading price: 75
Target: 71, 65, 56.5, 47.5 (placed above support line)
Stop Loss: 81.50
maruti suzuki is going through tough times and may see even more panic
but as its market leader will surivive and emerge victorious
although may take time but still nothing wrong to stay in it
