ASHOKLEY forming a Head & Shoulder Pattern on Weekly Basis. It just took a rejection from its Neck Line area, which is really a very crucial level for the stock. Closing below the NECK LINE may open further downside for the stock.100 is a very big support level for this stock physiologically, if stock gives a closing below it's Neck Line may take it to 100 and if stock falls further then next support area is 85-90.
Also, there are number of bad news floating in the market which are creating selling pressure and apart from this Rupee is getting weaker and weaker etc.. :>> MY VIEW FOR THIS STOCK IS STRONG BEARISH FOR NOW.
Note
Range 100-105 is acting like a very very great support.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.