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Trendlinebounce

Ashok Leyland - Long term uptrend resumes ?After a steep fall of 3 months, looks like Ashok Leyland NSE:ASHOKLEY has resumed its upward journey from August. I can see that the stock has reversed from its long term trendline forming a Bullish Engulfing candle. Also, it has reversed after retracing 61.8% of its previous upmove. Good stock to accumulate with a stop loss below 110 levels. Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.
NSE:ASHOKLEYLong
by nano6yogesh
HDFC Bank - Bottomed out ?After a month long consolidation from 27 July, looks like HDFC bank NSE:HDFCBANK may have bottomed out. The stock has underperformed for the past month even as some other banks like Axis and ICICI have made new highs. I can see that it has taken long term trendline support around 2060 zones and also formed a Double bottom on the daily chart. The stock also seems to be reversing from the 61.8%-78.6% retracement zone of its previous upswing. Looks like a very good buy candidate for successive targets around 2113 and 2140 with a small stop loss. Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.
NSE:HDFCBANKLong
by nano6yogesh