Analysis for Ashok Leyland
Price has formed a Fresh Monthly Supply which is a Source
We have a fresh Quarterly Demand which is a Destination for the downtrend.
We have divided the Supply to Demand Equilibrium into 5 parts giving us an understanding of where are we on the Curve.
Price reacted to the Monthly Source Supply and has violated its previous low which confirms the momentum in the downward direction. Now we have a fresh Supply formed in Weekly chart which is a trade Supply.
This a Short position for Reward of 3 against risk of 1.
ASHOKLEY
Golden Crossover - AHOKLEY📊 Script: AHOKLEY
📊 Sector: Automobile
📊 Industry: Automobiles - LCVs / HCVs
Key highlights: 💡⚡
📈 Golden Crossovers are seen into the Script.
📈 Golden Crossover is where slow moving average line crosses fast moving average above.
📈 Although Script is trading at All Time High we may see some bullish rally.
⏱️ C.M.P 📑💰- 201
🟢 Target 🎯🏆 - 239/250
⚠️ Important: Always maintain your Risk & Reward Ratio.
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Disclaimer: I am not SEBI Registered Advisor. My posts are purely for training and educational purposes.
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Big Swing Trade Opportunity in ASHOK LELANDAshok Leyland is around the medium support
With the support EMA is also working and we are getting support around the same level
Support levels are 155-160
We can see jump upto 210 level in coming weeks
Thank You !!
Disclaimer : We are not SEBI registered analyst. Do your own research before taking any investment decision.
#JKTYRE 278 Buy Recommended TGT 325 (17%) SL 250 - Rachit SethiaJKTYRE 278
TGT 325
SL 250
RR > 1.8
TF < 6M
RETURN > 17%
NSE:JKTYRE
Factors: BULLISH WEDGE BREAKOUT Trend Following Rising Volume with rising Prices. Flag pattern breakout. Pennant Pattern Breakout with Bullish Candle. Retest Successful. Higher Highs & Higher Lows. Broken above RESISTANCE levels Trading at SUPPORT levels Earnings are strong. Bullish Wedge Breakout Risk Return Ratio is healthy. And Rising from Double Bottom Pattern to Flag Pattern forming. If you like my work KINDLY LIKE SHARE & FOLLOW this page for free Stock Recommendations. With 💚 from Rachit Sethia
ASHOKLEY, breakout soonAshokley can soon touch 200+ once gives closing above 192.
Momentum trader should wait for 192++
While value investor and swing trader can buy every dip.
The auto sector has shown bullishness but Ashok has yet to contribute in the rally.
Disclaimer: just an educational advice not a buy or sell.
ASHOKLEYNSE:ASHOKLEY
One Can Enter Now ! Or Wait for Retest of the Trendline (BO) Or wait For better R:R ratio
Note :
1.One Can Go long with a Strict SL below the Trendline or Swing Low of Daily Candle.
2. Close, should be good and Clean.
3. R:R ratio should be 1 :2 minimum
4. Plan as per your RISK appetite
Disclaimer : You are responsible for your Profits and loss, Shared for Educational purpose
{ASHOK LEYLAND}:[{USING ELLIOT WAVE NOMENCLATURE}]
WAVE 1 : Wave 1 can be either a 5 Wave Sequence structure or a 3 Wave Sequence structure as well, but a 3 Wave Sequence comprises of two 5 Wave Impulse structure hence when Wave 1 is a 3 Wave Impulse WAVE 3 is supposedly way bigger than WAVE 1.(In the above pic also we see WAVE 1 is a 3 Wave Impulse structure.)
Let's Move to WAVE 2 . . .
WAVE 2 : Wave 2 and or Wave 4 both are formed in one timeframe lower to the timeframe in which Impulse is formed, as correction structures have less volume than the Impulses hence we can have a clearer picture in one timeframe lower to the one in which Impulse is formed. Similarly we have a 3 Wave Correction structure in 3 Months chart which defines WAVE 2 a simple correction structure.
Wave 2 is typically 50%, 61.8%, 76.4%, or 85.4% of wave 1.(When we have a 3 Wave Impulse in Wave 1 it shoots from 50% due to more power as there is a double Impulse)
WAVE 3 : Wave 3 is what brings us all to the table; the wave every trader wants to surf . . . Here's ur chance,
We have checked that Price has retraced 50% of the Wave 1 as per Fibonacci Retracement tool.
Similarly we can find out the Target of Wave 3 using Fibonacci Extension tool as follows.
ASHOK LEYLAND Trend AnalysisThe second-largest Commercial Vehicle manufacturer in India.
Already manufactured 40 electric buses for Chandigarh which will be operated under Switch Mobility Automotive Ltd.
The high cost and range of EVs are the barriers unless every state govt. plans to start their fleet of EV buses and battery tech evolves with proper charging infrastructure.
Private players will be the last to switch from ICE to EVs unless govt. gives better subsidies.
As per FAME India scheme , the incentive is linked to battery capacity i.e. Rs.10,000/KWh for e-2W, e-3W and e-4W.
Then comes the flex fuel engines which will bridge that gap meanwhile considering no charging infrastructure developed as of now, which may develop by 2030 to sustain EVs ecosystem.
I don't see any good reason to buy such over valued stocks considering their fundamentals just because of EV hype.
Fundamentals are not good though turn around potential might happen in future if sales improve with reduction in debt.
OPM% came lower on account of steep rise in raw material cost.
I don't want to copy paste the data which are readily available at screener.in to keep my posts short and to the point, kindly check the fundamentals there.
Technically price is heading towards its resistance level around 150 with decline in volume and potential divergence with awesome oscillator.
Though it looks like reverse Head & Shoulder pattern, it is just an extended pullback (X wave of WXY correction).
Accumulate around 70-80 levels as it lies at the Golden FIB with confluence of trendline support and edge of the pitchfork.
Short term swing target @ 120 (55% ROI with 3.47 R:R)
Medium term positional target @ 185 (139% ROI with 8.76 R:R)
Long term positional target @ 270 (249% ROI with 15.67 R:R)
Stop loss @ 65 (Optional)
Every detail I wrote here are my views only. Do your own due diligence before taking any action.
Peace!!