ASHOKLEY trade ideas
ASHOK LEYLAND fib levels for swing trade (Learning purpose)* For best results, always let the hourly candle close above the entry point.
* 2 rupees minus the 3rd target is safe to book profit as the 3rd target would always face selling pressure.
* If the price makes it to a comfortable hourly close above third target, we can aim for the 4th target as well.
* We may also trail our stoploss while the price moves forward to secure our capital and profits.
Wedge Pattern And Trendline BreakoutToday i picked Ashok Leyland because, it broken trendline resistance on closing basis. The following factors are considered by me for picking this.
1. Wedge Pattern Breakout
2. Price Growing with Huge Volumes
3. Huge Long position in Futures
For BTST trades Keep profit as 2% - 3%
Keep SL and Target profits mentioned on the chart for short term swing trades.
Please consider these for educational purposes
Ashok Leyland- Auto sector looks bullish, breakout Rev. H&SThis script is in consolidation phase for longtime, one take good bet on this.
Good buy entry will be any closing above 148.5 in hourly candle. After that buy as much in dip between140-150 range, keeping SL @ 137.5 on closing basis.
Near term hurdle is at price level 154. One can hold till 195-200, profit can be book 163-167 level.
*Note-Only for educational purpose.