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.
We are about to reach strong support zone in Ashokley and bat pattern is about to complete in the zone, I'm expecting the market to move up after bat pattern completion. Actually today GST bill is about to get passed, for Nifty - Gap down possible, for ashokley gap up bcos lesser tax for auto sector. Its just an info, so keep a note of it and have this pattern in...
It is been trending down for a while and for past few days the price action is been trading within a symmetrical triangle as marked in the chart. Looking forward a strong breakout on either side.
