The stock had been taking support at the above mentioned price action line which is also supported by 50 week moving average which will act as huge support on short term basis. Also the stock has given a breakout above 20 week moving average which is good breakout considering the up coming Diwali session and auto sector can see some good sales volume.
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
Welcome to this analysis about ASHOK LEYLAND , we are looking at daily timeframe perspectives. ASHOK LEYLAND is developing here that will be a decisive factor in the upcoming times. I discovered the main formation ASHOK LEYLAND is developing here that will be a decisive factor in the upcoming times. As when looking at my chart now we can watch there how...
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,...
The stock has shown a breakout from its previous resistance level of around 136 with great volume. There is also a formation of the cup and handle formation on the weekly time frame chart. There is a buy call in the stock with a price target of 250 and a time target of 6 months. The stock has also seen a MACD crossover and breakout of RSI above 60 levels.
A decent flag pattern is formed on weekly and also daily by breaking trend
line on fourth time with good volume on daily t.f .but did not close above 134,
if there are any bullish confirmation above 134 resistance then i will enter the stock
Ashok Leyland has given a super-strong breakout from triangle like pattern. Volume is also extremely strong. A small pullback would be a good entry.
Disclaimer- we are holding the share from lower levels, added positions on breakout as well.
Targets - 145.
Note - This material is only for informational purposes, please do your own risk management prior to taking...
Ashok Leyland Ltd. engages in the manufacture and sale of commercial, defense vehicles and power solutions. The company was founded by Raghunandan Saran on September 7, 1948 and is headquartered in Chennai, India.