ashok leyland has formed a triangle patternPlease wait for the pivot point to act as a support and wait for the triangle breakout to take a good entry.Also watch and observe nifty.
ASHOKLEY trade ideas
Ashok Leyland: Rough road aheadAshok Leyland
Observation
- Multiple resistance between 54-57 & then around 63 levels
- before September, it could be extremely difficult to cross the red zone
- below 47.65 target 45.50
- if Ashok Leyland starts trading below the green line, then it may be indication of further weakness & we may witness a quick fall towards 38-36 levels.
One may consider selling Ashok Leyland on rise especially around 55 odd levels or once it breaks 47.65
Alternatively one may consider selling Ashok Leyland 28-May-2020 Call option
Strike Price: 60
Price between 1.3 - 1.6
Lot size 8000
Target : 0.3 / 0
Time frame till 28 May 2020
Take care & safe trading...!!!
ASHOK LEYLAND - Positional shortWe will open with gap down on Monday as AL react from 38.2% retracement level of recent fall as seen in chart. Positionally we can short AL with stop loss 54 for Tgts 47.05/44.80/40.65/37.75/32..
ASHOK LEYLAND trading inside the channelIts clearly trading inside the channel respecting the support and resistance with RSI above 50 level
Vol. Breakout move in Ashok LeylandParallel Channel with volume breakout happening and long future buildup and OI.
Ashok Leyland trading in DECISIVE zone for further direction:
1. up-break with vol. else it will be speculation and dont' go long
2. or follow the parallel channel for correction.
If price is continue to rise with volume follow the price parallel channel , the first target is at 55 as 55.26 is 50 EMA resistance line.
Regards
AHOKLEY Fibonacci Retracements in this 2year downfall.On weekly chart we can see that it has retraced 50% twice.
it has retraced alomost 100%.
Now it has retraced almost 38% which is at 53 level, i.e today it touched 50.4 levels. considering the economic situation it is difficult to retrace 50% level. if nifty support it can do so.
I see opportunity #ASHOKLEYif there is no gap up gap down opening then and if above mentioned short term trendline breaks we can surely see a fall.
Levels for ASHOKLEYIf ASHOKLEY is bullish then following are the possible levels
Now it is being tested at level .316 Fib. Wait for the price to cross both the downtrend lines.
So the safest entry (if bullish) is when price exceeds 46.5
First Target 51.5
If it crosses 51.5 then
Second Target 54.20 which is 0.382 Fib
Third target 60.5 which is 0.5 Fib
Fourth target 67 which is 0.618 Fib
Ashok Leyland monthly chart studyASHOKLEY bulls must prevent a close below 77 on monthly chart to defeat the bears.
Ascending Triangle Breakout for ASHOKLEYAshokley is trying to break 46.45 level. it closes above that level it can rally upto 51 level
AshokLeyland - Punctured at the tops-85 - What next ?Suggested at the Tops from 85 (Selling strictly below 85) as per last stock idea- Stock got punctured in impulsive manner to lows at 34.
What Next ?
Strictly - crossing 40 & holding above this level - traders can expect 45 / 50 / 55 & Above 55 - 60/65.
Last Idea Published - 24th Feb 2020
