Ashok Leyland – Averaging Strategy (Weekly View)📊 Ashok Leyland- CMP:148.44; RSI44.17
Stock has seen a sharp rally till ~₹215 and is now in a healthy corrective phase, approaching key Fibonacci supports.
🔍 Technical Structure:
Price correcting towards 0.382 Fib (~₹138) → immediate support
Next strong supports at:
0.5 Fib → ₹115
0.618 Fib → ₹91
Long-term trend still intact above 200 EMA
RSI cooling off → correction phase, not breakdown
🧠 Averaging Plan:
✅ 1st Buying Zone: ₹140–135
👉 Near 0.382 Fib (current zone)
✅ 2nd Buying Zone: ₹120–115
👉 Strong support (0.5 Fib) – best RR (Risk to Reward Ratio)
✅ 3rd Buying Zone (Deep Accumulation): ₹100–90
👉 0.618 Fib → high probability reversal zone
🛑 Stop Loss (Positional): Below ₹85
👉 Breakdown of long-term structure
🎯 Upside (Recovery Levels):
₹165 → initial resistance
₹180+ → strength returns
₹210+ → trend continuation
📌 Conclusion:
👉 This is a correction within an uptrend
👉 Follow staggered averaging, not lump sum
👉 Best opportunity lies near ₹115 zone
📌 Thanks a ton for checking out my idea! Hope it sparked some value for you.
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Long
