Ashok Lelyland which is heavy and light commercial strong company which is fundamentaly strong company but its share prices are decreasing due to fall in auto sector.But now Ashok Lelyland has gone into oversold zone and is undervalue. As the earning season has started its time to buy Ashok Lelyland. It is expected that Ashok Lelyland will increase today put the...
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
It is been observed that the price action breaks out from a previously trending Pitchfork channel on daily chart. It is indicating a bullishness in further price action and shall move higher levels if it manages to close above 82 price levels. It can also be called as a short term trend change.
Target: 86
Stoploss: 82
It is been trending down for a while and for past few days the price action is been trading within a symmetrical triangle as marked in the chart. Looking forward a strong breakout on either side.
Ashok Leyland Ltd. engages in the manufacture of commercial vehicles. It operates though the Commercial Vehicle and Financial Service business segments. The Financial Service segment covers the vehicle and housing financing. Its products include buses, trucks, light vehicles, defense vehicles, and power solutions. The company was founded by Raghunandan Saran on September 7, 1948 and is headquartered in Chennai, India.
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ASHOKLEY
