ASHOK LEYLAND BULLISH CUP & HANDLE BREAKOUT | 1:2.5 RR | SWING
As Nifty is trading above its resistance area, it looks like the growth is being pushed by AUTO and FMCG Sector.
AUTO Sector has recently broken out of its resistance area and it seems it will continue to go higher in upcoming weeks.
Checking out AUTO STOCKS, Ashok Leyland looks a good pick.
The price has broken out of its resistance area and is trading above Daily 200 EMA.
Also, the price has broken out a Cup and Handle Pattern, which is a bullish pattern.
Entry- 147.5
TARGETS
1- 154
2-160
STOP LOSS
For aggressive traders- 144
For conservative traders- 142
This is a SWING TRADE
Let me know in the comments section if you want me to analyse any other financial instrument.
WARNING:-
ALWAYS FOLLOW RISK MANAGEMENT AND POSITION SIZING WHILE TAKING ANY TRADE.
AUTO Sector has recently broken out of its resistance area and it seems it will continue to go higher in upcoming weeks.
Checking out AUTO STOCKS, Ashok Leyland looks a good pick.
The price has broken out of its resistance area and is trading above Daily 200 EMA.
Also, the price has broken out a Cup and Handle Pattern, which is a bullish pattern.
Entry- 147.5
TARGETS
1- 154
2-160
STOP LOSS
For aggressive traders- 144
For conservative traders- 142
This is a SWING TRADE
Let me know in the comments section if you want me to analyse any other financial instrument.
WARNING:-
ALWAYS FOLLOW RISK MANAGEMENT AND POSITION SIZING WHILE TAKING ANY TRADE.