ASHOKLEY trade ideas
Can expect a good rally in coming daysAfter a strong move the stock is trading inside a convergence triangle can expect a good rally in coming days
Ashok Leyland BullishFollow my lines to trade, hope it will make some money. If 5M candle brakes trend line, skip trade.
Ashok Leyland: How Technicals helped us capture 11.3% movementAshok Leyland
This is what was posted on June 21, 2021
At 115.90 the stock was near the blue line which had acted as resistance previously... In Technical Analysis theory, there is a higher probability of previous resistance acting as support and vice versa. Based on this simple rule the trade was initiated.
Today Result NEWS has come out and stock opens with a big gap up and zooms further high in morning trade itself
Decide for yourself whether you want still want to listen to NEWS to make your trading decisions or listen to Charts directly and be a STEP AHEAD
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But don't follow me blindly
Learn to identify such opportunities independently
Ashok Leyland: Opportunity at current levelsAshok Leyland
CMP 115.80
Chart suggests at current levels the stock provides good risk::reward ratio to go long.
Pattern gets invalidated if Ashok Leyland trades below the blue dashed line
Follow the levels
Take care & safe trading...!!!
Ashok leyland 350 target. Rounding bottomAshok Leyland is forming rounding bottom on weekly chart. BO possible above 170 WCB with high volume. Near term target could be 350 ++
Ashok Leyland - consolidation below 125Ashokleyland - It has fallen and now consolidation will happen for a week. Anything above 122 should start buying and moving it up higher
BUY ASHOK LEYLAND take the 0.618 Fibonacci as support and form a Demand Zone.
Target around 139. Stoploss : day closing below 121.6.
best buy is from 126 to 128.4.
ASHOKLEYLAND TARGET 123 CMP 116.45ASHOKLEY has crucial support at 115 hence bounce back to 120+ levels is sonn on cards.
LONG on ASHOK LEYLANDWe can go long on Ashok Leyland if there is a bounce back and it respects the trendline. We might also see 150 levels soon! Fingers-crossed.
Ashok Leyland in somewhat Descending Triangle Chart PatternIt tried breaking out from the descending triangle but it seems like it failed or came back to retest, we need to observe closely, where it wants to go in the future.
KEY TAKEAWAYS
A descending triangle is a signal for traders to take a short position to accelerate a breakdown.
A descending triangle is detectable by drawing trend lines for the highs and lows on a chart.
A descending triangle is the counterpart of an ascending triangle, which is another trend line-based chart pattern used by technical analysts.
For Educational Purpose Only.
Rising channel; Resistance and SupportTrading can be done with scalping strategy between the top and bottom of the rising channel.
