Ashoka Buildcon Ltd - 07.01.2022
The stock is trading @ 102.75
The prices are above EMA
There is a confirmed Head & Shoulders Formation in Daily & Monthly Chart
Neckline is @ 104 (Daily), Neckline is @ 120 (Monthly)
watch out for the price action
watch this scrip upmove for learning trend chart pattern. understanding risk associated with market.
long term breakout and retest and upmove with positive news may go up.
confirm at ur end techno funda.
Chart is self explanatory
Buy the stock near the trendline and stop loss should be considered as closing below trendline on daily basis.
Hold with Patience.
Disclaimer: This view is for only educational purpose. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
Go Long above 107.2 for Targets of 112.9, 118.6, and 124.3 with SL 101.5
Reasons to go Long :
1. On a daily timeframe if we draw the Fibonacci retracement tool from recent swing low (point A) to recent swing high (point B) then we see stock took support from 0.5 Fibonacci level.
2. Also a bullish candlestick pattern Bullish Harami (marked with orange color) is...
One can witnesss a reversal in this chart.....there has already been an INHS formation and at present we are going through an ascending triangle but the brerakout seems complete from the INHS already... if the target of INHS achieves than it crosses its previous High and we can then position for the final target at 1.618 fib retracement level...need to keep a stop...
ashoka buildcon is now joining the bull party, targets are 25 % from CMP.
just to be cautions, invest 30% of the capital with every 5% rise.
work Hard , party harder...
Looks like Cup and handle pattern formation but not yet formed.
Can take buy around 98-101 keeping strict SL @ 94 on closing basis. Long term target can be expected 150-160
Script will become positive if it start closing above 120, resistance level 107-110 and 116-120
Only for educational purpose!!!!
