Short term view on ashok ley, it's form flag structure
Looks like rally happened next coming trade days .
Any way buy above 125 for safe side and maintain sl 117 for short term view .
please do your analysis own
The stock has broken out with good volumes and retested the upper trendline. Trade is supported by brokerage calls and Supports Nearby.
Risk Reward Ratio - 1:1
SL is placed below the support zone, Upper and Lower Trendline. The target is placed near swing high.
NSE:ASHOKLEY I am expecting a bearish trend in Ashok Leyland after a trend line break down today possibly in the 3rd of C Wave. It seems Ashok Leyland is in an ABC correction pattern. The depth of correction can be at 128.9, 126.55, 125.1,...
Ashok leyland is showing a very nice wave formation at current level it looks like we have completed wave A and heading for wave B which has 3 wave in it and two waves already over and now we are heading for the third wave which is trade able for a very short target of 127 but if the whole ABC correction is over than we are heading for bigger Wave 3 which can...
It is a Weekly Chart.
Around the zone of 100 is an intersection of a few resistances, so it is better to enter above 101.
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