Ashok Layland has a weekly resistance zone from which it has started going downwards. It appears that it will come that some more until it hits the bottom of the channel. It may then start preparation of breaking out of the weekly channel. Till then it looks downwards to sideways.
Ashok Leyland Future is on the bearish horizon. It has already stood below the entry-level (130.85) there is a high probability to reach Target(110.85)
Entire analysis has done on the basis of quantitative analysis with considering other important data points and statics.
Please honour the SL(139.4) in case of upwards move.
Entire data analysis was done on EOD...
A beautiful “COIL” in the make for ASHOKLEY on the daily chart. The stock is already in a well-defined UP trend for quite sometime and going by the nature of symmetrical triangles, ideally it should give us a breakout on the upside.
A simple projection of the height of the pattern should take us close to the target of 90. But before that the stock needs to deal...
