Long

SWING IDEA - ASHOK LEYLAND

Updated

This chart reveals a harmonious convergence of price action and key indicators, suggesting a potential buy opportunity on the horizon. The stock has displayed remarkable strength, with patterns that indicate a possible upward trajectory.

Reasons are stated below :

price tested 168 levels twice on weekly tf and finally has come down to retest after a strong breakout
0.382 Fibonacci level support
50EMA support on daily tf
formed 2 hammer like candles with a long wick indicating a buy-push

ASHOK LEYLAND is a fundamentally strong stock on which we can rely.
this seems to be a golden opportunity to buy this gem.

TARGETS - 207 // 233 // 260 // 300
SL - 154

thank you.

Note

We can see a double bottom pattern on daily timeframe, can add up some quantity.

Note

We are up by 8.4% from buying price.
It made a high of 9.4%.
Stock looks quite strong, we can hold for our targets.

Note

currently, stock is in consolidation phase.
Technicals look quite promising, so we can hold till targets.

Note

stock is still consolidating. Once 190 level is taken out we will see a sharp upmove.

Note

Accumulate as much as possible, even if you're looking for investment.
This the best price.

Note

A strong marabozu candle on weekly timeframe shows incoming momentum.
The stock can potentially rally now, hold for targets !!

Note

Achieved 15% ++
Hold for targets

Note

We are very close to our 1st target
Price made a high of 19.5% ++

Note

made a high of 22%

Trade closed: target reached

1st target achieved : 24% ++

Note

Very close to 2nd target, made a high of 36% ++ from our buying level

Note

trend seems strong, can accumulate at 190 levels

Trade closed: target reached

2nd target achieved 40%++

Note

getting closer to 3rd target of 260

Trade closed: target reached

3rd target achieved : 53%++

Note

made a high of 55%++

Visionary_Growth_Insights

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