ASHOKLEY cup and handle pattern breakout at lifetime high. Taking support at trendline price action looking bullish. Sustaining above previous lifetime high levels. Looking good for good upside. Disclaimer:- Not any recommendation and shared just as educational purpose. Consult your financial advisor. No one will be responsible for any profit or loss
Hi
The bullish Flag pattern forms in Ashok Leyland. The CMP is 169.35. The Target would be 185 with of 160.
Happy Trading!!!
Disclaimer:- Pls analyze yourself. Publisher has their own opinion.
The stock was recommended on 20.4.2024 (Saturday) for next week, starting from 22nd April 2024 onwards. The CMP on 20th April 2024 was 169.6. The target was 185. Today, on 26.4.2024, the Ashok Leyland posted the price tag of 187 as day high and closed on 185. The target is met within 5 trading session. 10 percent return on 5 sessions. Good.
Hope you benefited...
ASHOKLEY
CMP:- 179.95
TARGET :- 191/204/227 +
SL:-164
- Ashok Leyland Posts Gains in Fiscal Q3 Profit.
- ASHOKLEY saw a sharp rise in its attributable consolidated net profit to 5.60 billion Indian
rupees in the fiscal third quarter ended Dec. 31, 2023 from 3.19 billion rupees a year ago.
- Earnings per share was up at 1.91 rupees compared with 1.09...
ashok leyland bullish pennant flag pattern on weekly
6% SALE IS DROPED ON FEB SALE COMPARETIVLY A YEAR AGO
lang term Invester may accumulate at present to utilize 6% down opportunity.
short term trader may take position if the stock crosses the trend line.
NEWS: COMPANY'S SHAREHOLDING IN TVS TRUCKS IS 49.9% AS ON 23 FEB 2024
this analysis is for learning purpose...
Please do your own analysis. Not a recommendation
Reason for long:
1. Price now at resistance turned support level.
2. Price is accumulating orders
3. Fib support of 38%
Potential of high up moves.
In the Weekly Chart of ASHOKLEY ,
we can see that; After Cup & Handle breakout, it has formed a Decision making candle on Trendline.
It's a third inside candle.
Enter on breaking its High with low as SL.
Ashok Leyland -
Price is moving in the channel from months.
Base formed from 2 weeks.
More Dojis, pressure from sellers and buyers.
Both ways possible, so keep strict SL 164.
I am long on this, entered at 170 for target above 190.
Stock is consolidating in a Flag-Pole formations. Showing increased Price Volume action. a break and daily close above 177 can take it to 195-205-315 targets
After 165 resistance level breakout price respect this resistance as a support. And now price is in range between 165.35 - 190.15
If price break 190.10 level with a good volume then we can see a good bullish move.
In the Weekly Chart of ASHOKLEY ,
we can see that; After Cup & Handle breakout, it has formed a Decision making candle on Trendline.
Enter on breaking its High with low as SL.
