Ashok leyland has formed a morning star pattern accompanied by good volume. It has traded within the downward channel for past few days. Any open above the trendline (around 91) can be seen as buying opportunity with a target of 95.
I am still learning technical analysis. Please feel free to provide your views on my idea.
ABC form is very clear, which is happened
on US election
if am not wrong to find the counts.
market will give huge down soon
anyway we small have correction for
next few more days
Ashokley is all set to go higher from current levels. One can go long on the stock at current levels with stoploss just below 80 levels and targets around 88.5 / 90 levels.
It seems that Ashok Leyland has completed a Flat pattern with an extended c wave (c=1.618*a). It can be longed with a small SL of yesterday low for new highs. Further confirmation would be above the UTL.
It is been observed that the price action made double bottom and then broke out the consolidation at around 95 levels to get back in momentum. Good Buy for intraday.
