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ASHOK LEYLAND LTD.ASHOK LEYLAND LTD.ASHOK LEYLAND LTD.

ASHOK LEYLAND LTD.

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ASHOKLEY trade ideas

Ashok Leyland looks bearish below 108.1. Structure has changed to LH-LL. 2. Price is below 50 DMA & below VWAP so looks like short term bearish. 3. Below 116 its bearish, till 123 its strong resistance and need to break it will good volumes to sustain above it. Till that time its bearish. 4. Price gets rejected from 20 EMA on daily basis and we can see mostly red candles. 5. Price 108-110 is support level but not that strong, Need to keep an eye here. If tested again it may break and go down till 100/99. 7. Heavy selling started from 12th Feb till 18th Mar. 8. Buying volume is reducing from last 4 days. So downfall can continue. 9. Already a big uptrend took place from 13th Aug'20 till 2nd Feb'21. I believe currently its in distribution phase so need to be cautious. 10. Overall, if its goes below 108 its good to short till 100. If it crosses 123 with good volume then it can turn bullish but still need to observe. 11. In FIB retracement its taking support at last level which is not good. 12. Auto sector also does not look that strong to sustain up move for long. Support line - Green Resistance line - Red Trend Line - White VWAP Line - Yellow 20EMA Line - Blue
NSE:ASHOKLEYShort
by virajmokadam
[Bounce] Ashok Leyland Short IdeaRefer the chart. If it gaps up, wait for gap fill. Note - One of the best forms of Price Action is to not try to predict at all. Instead of that, ACT on the price. So, this chart tells at "where" to act in "what direction. Unless it triggers, like, let's say the candle doesn't break the level which says "Buy if it breaks", You should not buy at all. ======= I use shorthands for my trades. "Positional" - means You can carry these positions and I do not see sharp volatility ahead. (I tally upcoming events and many small kinds of stuff to my own tiny capacity.) "Intraday" -means You must close this position at any cost by the end of the day. "Theta" , "Bounce" , "3BB" or "Entropy" - My own systems. Please refer to the link to my footer and explore further if You want. ======= I won't personally follow any rules. If I "think" (It is never gut feel. It is always some reason.) the trade is wrong, I may take reverse trade. I may carry forward an intraday position. What is meant here - You shouldn't follow me because I may miss updating. You should follow the system I share. ======= Like - Always follow a stop loss. In the case of Intraday trades, it is mostly the "Day's High". In the case of Positional trades, it is mostly the previous swings. I do not use Stop Loss most of the time. But I manage my risk with options as I do most of the trades using derivatives. I also do my trades live, Please refer to the link to my footer if you want to tail me. =======
NSE:ASHOKLEYShort
by Amit_Ghosh