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.
Ashokleyland
SWING IDEA - ASHOK LEYLANDThis 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.
SWING IDEA - ASHOK LEYLANDAshok Leyland, one of India's leading commercial vehicle manufacturers, presents a compelling opportunity for swing traders.
Reasons are listed below :
Cup and Handle Pattern : The stock has formed a cup and handle pattern, indicating a potential bullish continuation. This pattern suggests a brief consolidation followed by a breakout, typically leading to an upward trend.
Breakthrough of Resistance Zone : The 160-level was a strong resistance point, but the price broke through it, retested, and is now forming new higher highs, indicating a continuation of the upward trend.
Bullish Marubozu Candle on Weekly Timeframe : This candle, characterized by a lack of upper and lower shadows, suggests strong bullish momentum and consistent buying pressure.
Breaking a Long Consolidation Phase : Ashok Leyland has broken out of a consolidation phase that lasted for 6 years, signaling a significant change in market sentiment and a potential start of a new bullish phase.
Weekly Engulfing Candle : The weekly engulfing candle has enveloped the price action of the past 40 weeks, indicating a substantial shift in momentum and suggesting further upward movement.
0.5 Fibonacci Support : The 0.5 Fibonacci retracement level provides strong support, indicating that the price might continue to rally after retracements or dips.
50 EMA Support on Weekly Timeframe : The price is above the 50 exponential moving average, providing additional support and confirming the upward trend.
Trading at All-Time High : Ashok Leyland is currently trading at an all-time high, indicating strong bullish sentiment. However, traders should be mindful of potential pullbacks or overbought conditions at such levels.
Target - 215 // 250 // 300
StopLoss - weekly close below 160
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@visionary.growth.insights
ashokkleyNSE: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.
2. R:R ratio should be 1 :2 minimum
3. Plan as per your RISK appetite and Money Management.
Disclaimer : You are responsible for your Profits and loss, Shared for Educational purpose
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.
ASHOKLEY: Buy Signal and OB Support Ahead of Earnings Event 🚀📉Dive into the dynamic market landscape as we spotlight compelling opportunities surrounding Ashok Leyland (ASHOKLEY). NEOALGO's analysis unveils a promising scenario with a recent buy signal and robust support from an order block, complemented by an upcoming earnings event.
The convergence of a buy signal and support from an order block signifies a potentially favorable market sentiment for ASHOKLEY. As investors consider their strategy, the anticipation of an earnings event adds an intriguing layer to the stock's narrative.
It's essential to approach with diligence. While these insights offer valuable perspectives, NEOALGO is not SEBI registered. Investors are encouraged to conduct thorough research, understanding that their decisions directly influence their profit or loss.
Navigate the markets with confidence, explore the opportunities presented by ASHOKLEY, and strategize wisely based on our detailed analysis. 📈💼 #ASHOKLEY #BuySignal #OrderBlockSupport #EarningsEventInsights
Ashok Leyland (Swing):Ashok Leyland (Swing):
AL has broken and retested a major resistance.
The script is set for a 50-60 % up move.
Appropriate support, resistance levels are highlighted with target.
Keep adding between 170-180 with a SL around 160.
Trade offers a RR of more than 1:6.
Note: Do your own due diligence before taking any action.
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.
ASHOK LEYLAND CNH PatternAshok Leyland has broken Cup nd Handle neckline 167 - 168 levels. It looks bullish on weekly time frame with RSI above 60 pointing upward. It would be a good entry point if it retest neckline. If it continues the uptrend, we may see levels 300 in a year or two. It a good investment stock to hold for a couple of years.