Ashok leyland showing a nice wave structureAshok 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 extend to 270-80 levels from current level which will be a great trading opportunity above the down trend line coming from top of wave 5 of 1
ASHOKLEY trade ideas
Ashokley - Bullish Divergence SpottedStock may have taken support here from a down trend. Also Bullish divergence is there in RSI. This can be a swing trade if the support is proven to be correct.
Disclaimer :- Kindly do your own research before taking any position. Market is all about probability, maintain you SL stickily.
ASHOK LEYLAND The stock can give a good move up to the level of 145.
Buy - 134+
T1 - 137+ (By 07-02-2021)
T2 - 145+ (By 12-02-2021)
SL - 132
Triggers -
Better earnings are expected to be reported for Q3.
Announcement concerning scrappage policy in the Union Budget is considered good for the automobile's commercial vehicle segment.