Ashok Leyland is coming up to the sell zone. I expect it to fall till target zone. Money management is key to all of my trades. Follow strict stop loss.
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
Ashok leyland has been trading in downtrend and it reversed touching the resistance 50%fibo. and we may see the stock to approaching next support around 82.50 in near term.
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.
As per my analysis,
it has broken trendline and if it stays above, it should touch
Target - 92
CMP - 86.85
SL - Below trendline
I try to give 1:5 Risk Reward mostly,
30% right should also make money ;)
Ashok leyland after breaking the down trend it tested the crucial 50% fibo level and again tested the previous level,the stock again seems to be approaching the 50% fibo. level again in near term,trades may enter long in ashok leyland up to the target of 92 in near term.
It is been observed on the weekly chart that the price action reversing at 91 levels where seller came into the market and took control over the price action. Now, it is been observed that this week price action shall break below current support levels of 75 and shall move down to previous support levels at 68.50 - 65.50.
Target1: 72.50
Target2: 68.50
Stoploss: 83.25
Ashok Leyland has broken the down trend and up trend seems to be established and touched first resistance, we may go long on this stock after it breaches this 92.10 level for the target somewhere between 110-112 in near term. stock looking strong enough to push upward.
Ashok leyland has been consolidating for a long time. The chart formation looks like it has completed wave A of a flat correction. The wave A has unfolded into to three waves marked in green ABC (3-3-5). We can anticipate a 3 wave up move B which should unfold as a 3 wave move. The current move in the counter has completed a 5 wave impulse move which went above...
Ashok leyland has been consolidating for a long time. The chart formation looks like it has completed wave A of a flat correction. The wave A has unfolded into to three waves marked in green ABC (3-3-5). We can anticipate a 3 wave up move B which should unfold as a 3 wave move. The current move in the counter has completed a 5 wave impulse move which went above...
Have a look at the chart. The blue lines capture major swing highs & lows. After the climactic action at the low, notice the change-in-behavior aka sign of trend reversal when the price moved above the prior swing high.
Any pull back and evidence of support at the green lines would get me interested in this stock.
The recent fall in the stock has been arrested at the key support level in the daily time frame. In the hourly chart presented here, price is on the verge of completing a "Change-in-Behavior". This happens when the price takes out a prior swing high in a downtrend, or vice-versa.
Watch this stock. If I see a strong reversal off the green-support lines, I would...
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...
