Ashok Leyland has broken the down trend and up trend seems to be established and touched first resistance, we may go long on this stock after it breaches this 92.10 level for the target somewhere between 110-112 in near term. stock looking strong enough to push upward.
I expected an 161.8 projection of wave1 to form wave 3. But it looks like the wave 3 is done with 131.8% projection. Right now the formation looks like a flat or a complex correction. I am also expecting this series will be spend in forming wave 4. I am netral in medium term.
Ashok leyland has been consolidating for a long time. The chart formation looks like it has completed wave A of a flat correction. The wave A has unfolded into to three waves marked in green ABC (3-3-5). We can anticipate a 3 wave up move B which should unfold as a 3 wave move. The current move in the counter has completed a 5 wave impulse move which went above...
Ashok leyland has been consolidating for a long time. The chart formation looks like it has completed wave A of a flat correction. The wave A has unfolded into to three waves marked in green ABC (3-3-5). We can anticipate a 3 wave up move B which should unfold as a 3 wave move. The current move in the counter has completed a 5 wave impulse move which went above...
We are currently in the 5th wave on ASHOKLEY. Recently it just touched 1.618 retracement at 90.60 and returned. If the 5th wave is completed, we can expect some correction towards downside.
Have a look at the chart. The blue lines capture major swing highs & lows. After the climactic action at the low, notice the change-in-behavior aka sign of trend reversal when the price moved above the prior swing high.
Any pull back and evidence of support at the green lines would get me interested in this stock.
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
The recent fall in the stock has been arrested at the key support level in the daily time frame. In the hourly chart presented here, price is on the verge of completing a "Change-in-Behavior". This happens when the price takes out a prior swing high in a downtrend, or vice-versa.
Watch this stock. If I see a strong reversal off the green-support lines, I would...
A fantastic RR for going long here. Weekly chart. Buy as close as the band as possible. Enter some now and keep adding with a stop just below the band (on closing basis).
Ashok Leyland (NSE:Ashokley)
Target 73
Stop loss 86
Overview
1. Weekly is in consolidation and Daily has downside breakout two levels pending on daily 73 and 68.
2. 4 hour and 1 hour is in consolidation right time to short at current price for target of 73
Hi Guys,
About 2 months ago there was a post about Ashokley , that bullish bat is forming and bat completed after 2 months of wait n in the zone, I have attached that idea below. Currently,
(i) Ashok Leyland is bottoming out in previous support zone
(ii) Support zone quite strong with no. of retests
(iii) After Bullish confirmation , initiate Longs
(iv) The Double...
is all set to go higher from current levels. One can go long on the stock at current levels with stoploss just below 80 levels and targets around 88.5 / 90 levels.
