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Trading_hawk
Sep 12, 2021 12:04 PM

Simple Trade Setup | ASHOKLEY | 13-09-2021 or in coming few days 

ASHOK LEYLANDNSE

Description

NSE:ASHOKLEY

Observations:

1) On Daily time frame, It has made a bullish candle and broke 21 DMA as well as 125 level with good volume. If it sustain above 125 level then this will start bullish move now.

Please refer below chart : Daily time frame.


2)On 15 Time Frame: It made bullish flag and pole pattern.

Please refer below chart : 15min time frame.


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Trade Setup for Date 13-09-2021:

1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action.

2) Everything is mentioned on the chart. I hope it is easy to understand.

3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level.

Please refer below chart for levels.


Hope I made it easy to understand it.

Do comment your doubt or suggestion.
Comments
Trading_hawk
123 level may work as reversal and a dip for buy who wants to take. SL will be 120 level.

saurabhbakliwal1001
@Trading_hawk,
Is 129 active and are there any further levels to TML. Also pl.help reading trend for LT , Powergrid ,hindalco and Bergerpaint.
Trading_hawk
@saurabhbakliwal1001,

At this moment consider 129 as ultimate level. Once can book profit if they want at current level.

for your other stocks, I will provide my view later in evening.
saurabhbakliwal1001
@Trading_hawk, thanks followed it .
Trading_hawk
@saurabhbakliwal1001, Your welcome.

On breakout of 129 in Ashokley next level will be 132 and 135 ultimate
Trading_hawk
Hey @saurabhbakliwal1001,
I forgot to reply on you trend for your suggested stock.

For LT if you are holding it in equity better to hold it. If you want to take new position then you can add 50% from CMP and other 50% at DIP 1700/1690
Trading_hawk
@saurabhbakliwal1001,

Powergrid is bullish.

Once it comes out from this channel it will make new ATH. I can see 200 level in short term if it breaksout from that channel.

Trading_hawk
@saurabhbakliwal1001,

For Hindalco 479/480 is a good immediate support.
In short term target will be 525.

Trading_hawk
@saurabhbakliwal1001,

Bergerpaint have critical support of 830 any dip above 830 will be good buying opportunity. Breakdown of 825 level with daily candle closed below 825 will make it bearish. But So far if it is maintaining above 830 level it is strong. Breakout of 845 level it will be good bullish.
saurabhbakliwal1001
@Trading_hawk, thanks for the responses..
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