The stock has broken below important zone of 105-110 which acted as support on several occasions for more than year.
Given the setup things look bleak for the stock and can be headed much lower towards 92 / 84 / 66.
View gets invalidated if the stock starts sustaining above 106-110 in the broader setup.
Take care and safe trading...!!!
The stock is constantly in down trend has seen huge fall and is currently trading at the levels of 107.75
Follow the levels to take a positional trade in the same:
“SELL IF” the stock breaks the levels of 105 which can give the targets of 100 and then 95
BUY “ASHOKLEY OCT 100 PE” when the stock breaks the levels of 105
“BUY IF” the stock positively breaks...
Symmetrical Triangle: Breakdown, Sell:122, Target: 108, SL: 133
Rectangle area represents demand area.
Further there seems to be a H&S pattern formation, will update in case the right shoulder forms fully.
Disclaimer: I am a novice in the markets, so please don't construe your trade basis this chart. I post it to see if my views holds true.
Based on my "xMRSI-Progresser" predictive trading methodologies, its going to be a RED candle on 21-Sep-2018 for ASHOKLEY
Sell Below(5Min candle close): 125.5 for targets -
Note: These calls are based on my own analysis. It may or may not work well for you.So please carefully consider whether it is suitable for you and...