Ashoke Leyland as been moving in an rising wedge most of its life. Recently made new lifetime highs . Currently on the edge awaiting a breakout/ Reversal
Also the last leg up is moving in a channel. This is weekly frame, it wud take million years to complete.
A 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
Similar to my idea of Tata Global this stock is showing good frequencies around the Pitchfork so I am looking for a short on retesting the upper Median Line. If recent election result creates an euphoric rally, climbing the price to the supply zone I would short the stock with Stop Loss of 96. Please put it into your watch list and to take timely action.
Trading mates can take advantage of beautiful symmetrical triangle breakout. How to handle : just go long in the direction of breakout if it turns out to be a busted pattern just reverse the position. Busted pattern performs even better. Good Luck
It is been observed that the price action breaks out from a previously trending Pitchfork channel on daily chart. It is indicating a bullishness in further price action and shall move higher levels if it manages to close above 82 price levels. It can also be called as a short term trend change.
Target: 86
Stoploss: 82
A fantastic RR for going long here. Weekly chart. Buy as close as the band as possible. Enter some now and keep adding with a stop just below the band (on closing basis).
Hi Guys,
About 2 months ago there was a post about Ashokley , that bullish bat is forming and bat completed after 2 months of wait n in the zone, I have attached that idea below. Currently,
(i) Ashok Leyland is bottoming out in previous support zone
(ii) Support zone quite strong with no. of retests
(iii) After Bullish confirmation , initiate Longs
(iv) The Double...
is all set to go higher from current levels. One can go long on the stock at current levels with stoploss just below 80 levels and targets around 88.5 / 90 levels.
We are about to reach strong support zone in Ashokley and bat pattern is about to complete in the zone, I'm expecting the market to move up after bat pattern completion. Actually today GST bill is about to get passed, for Nifty - Gap down possible, for ashokley gap up bcos lesser tax for auto sector. Its just an info, so keep a note of it and have this pattern in...
It is been trending down for a while and for past few days the price action is been trading within a symmetrical triangle as marked in the chart. Looking forward a strong breakout on either side.
