Seems Bullish with Volumes at breakout levels!!! Analysed levels mentioned on chart!!
Regards @MrAkshatP
ASHOKA trade ideas
Short Term Idea -Ashok BuildconOnly Educational Purpose. Invest at your risk.
- Clearly trying to breakout from the resistance zone
- once it breaks out as shown in the resistance zone, buy for short term and exit at 101-105 zones.
Buying opportunity for 10%+ upside rally..!!Ashoka buildcon is consolidating for few weeks after a sharp upside rally. Stock has halt enough and now it looks ready to breakout that accumulation zone.
Wait for the breakout and go long after it gives closing above 55.
Good quarterly results brings the interest of investors back.Source: Company presentation
Fundamentals Analysis:
Positives:
15.8% Increase in EBITDA.
Receipt of Provisional Certificate (PCOD) for Kharar Ludhiana Road Project (HAM)
Received Letter of Award (LOA) worth Rs. 10,355 Mn from NHAI for road project under Bharatmala Pariyojana (Package-III) in Karnataka under Hybrid Annuity Mode (HAM)
Execution of Concession Agreement with NHAI
Company’s Current Order Book is at Rs. 89,809 mn, which is comfortable and is expected to help the Company in carrying on its operations smoothly
Negatives:
The COVID-19 pandemic led to a nationwide lockdown halting economic activities across most sectors- Construction activities also came to halt & Toll Plazas were shut amid lockdown across the Country.
Technical analysis:
According to EMH, all the fundamental data should gets reflected in prices.
Recently It has closed above the 50 day MA and also broken the resistance line.
So, considering the current situations, stock will hit target of 90 and with strict stop loss of 49.
Also, there has been an increase in volume traded in last 3-4 trading sessions.
ASHOKA BUILDCON LT LONGNSE:ASHOKA
Only for education and information purpose. Should not be taken as a trading call
IN this script we may see its trading in a channel and as it's now taking the support of the lower channel along with the previous demand zone supported by the formation of a harmonic pattern so we may see a good move upside where probably resistance will be from 128 to 134 and then at 144. for more such knowledge msg me on trading view. or twitter.
CHART BY HARMONIC LEARNING AND EARNING
#ASHOKADaily/Weekly CCI > 100
While on Daily 2 strength candles have formed
If CCI 34 on weekly crosses below 100,
Exit at the next CCI 8 peak when it reaches > 100
#ASHOKADaily/Weekly CCI > 100
While on Daily 2 strength candles have formed
If CCI 34 on weekly crosses below 100,
Exit at the next CCI 8 peak when it reaches > 100
ASHOKA: HARMONIC Bullish GARTLEY.All mentioned & plotted on Chart.
My personal View.
As i am not SEBI regd. analyst, take this study as educational purpose.
For taking trade decision Consult with financial Advisor.
ASHOKA BUILDCON LT buy setupBuy ASHOKA at CMP (226) upto 220
T1: 250
T2: 273
T3: 295
T4: 320
SL: 201
ASHOKA BUILDCON - Rounding bottom? Breakout?Stock seems to be forming a rounding bottom and has been surging with huge volumes in the past few trading sessions.
Can we look at an optimistic target of 215 in the coming days?
short the stockas we can the bearish engulfing pattern and price below 8 ema and bearish divergence adding to it and can expect lower levels 136-140 levels
Ashoka Buildcon Buy SetupAshoka Buildcon Buy Setup
~Study Purpose~
Time around 1.5-2 months
tgt ~ 190 then 205 sl 150
Please put your comments and let me know ur ideas
