HEAD & shoulder pattern has been completed not it must fall from right shoulder strict stop loss is 83.55 if it hits this just exit it may head towards 88 then target for short is 78.80 good luck
note: trade at your own risk
NSE:ASHOKLEY
HEAD & SHOULDERS PATTERN IN ASHOK LEYLAND
75-80 IS THE IMMEDIATE SUPPORT ZONE. IF SUSTAINS ABOVE 80 IN NOVEMBER THEN WE CAN SAY THAT THE TREND HAS CHANGED IN LONG TERM. OTHERWISE THE RALLY SHOULD CONTINUE DOWNWARDS.
BEARISH DIVERGENCE OVER PAST FEW DAYS NOW. SO THAT WILL HELP TOO.
IF IT SUSTAINS BELOW 75 OR OPENS GAP DOWN IN NEXT SESSIONS,...
AL has a small H&S pattern formed at neck line of 74.3.
Breaking of this lvl (most likely to happen) will see that the stock price reaches 71 and 69.
May be the Q2 result effect.
Ashok Leyland Limited is a holding company. The Company is engaged in Commercial vehicles and related components. Through its subsidiaries, it is engaged in manufacturing and trading in Medium and Heavy Commercial Vehicle, Light Commercial Vehicles, Passenger vehicles, automotive aggregates, vehicle financing and engineering design services. It offers a range of 18 to 80-seater buses under categories, such as city application and electric buses. It offers a range of trucks, which include long haul trucks, mining and construction trucks, and distribution trucks. It designs, develops and manufactures defense vehicles for armed forces. It offers Light Vehicles, which include DOST, PARTNER, STiLE and MiTR. It offers power solutions for electric power generation, agricultural harvester combines, earth moving and construction equipment, and marine and other non-automotive applications. It has operations in India, Sri Lanka, Bangladesh, Mauritius, the Middle East and Africa.
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ASHOKLEY
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