Ashok Leyland | ATH Breakout + Retest Setup 🚀
Ashok Leyland has delivered a clean breakout above its previous all-time high of ₹190 after three failed attempts, and has now printed a fresh high near ₹198, signaling strong bullish strength.
The stock is currently expected to retest the breakout zone around ₹190, which earlier acted as a strong resistance and is now likely to flip into a crucial support level.
A sustained hold above ₹190 can offer a high-probability pullback buying opportunity.
Trade Plan:
* Entry: Above ₹190 (on confirmation)
* Stop-Loss: ₹185
* Targets:
* T1: ₹200
* T2: ₹205
⚠️ Risk Factors:
Expect higher volatility around:
* 1st Feb – Union Budget
* 5th Feb – Quarterly Results
As long as the price respects the ₹190 zone, the overall structure remains strongly bullish with continuation potential.
Ashok Leyland has delivered a clean breakout above its previous all-time high of ₹190 after three failed attempts, and has now printed a fresh high near ₹198, signaling strong bullish strength.
The stock is currently expected to retest the breakout zone around ₹190, which earlier acted as a strong resistance and is now likely to flip into a crucial support level.
A sustained hold above ₹190 can offer a high-probability pullback buying opportunity.
Trade Plan:
* Entry: Above ₹190 (on confirmation)
* Stop-Loss: ₹185
* Targets:
* T1: ₹200
* T2: ₹205
⚠️ Risk Factors:
Expect higher volatility around:
* 1st Feb – Union Budget
* 5th Feb – Quarterly Results
As long as the price respects the ₹190 zone, the overall structure remains strongly bullish with continuation potential.
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.
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.