ASHOKLEY trade ideas
AshokLey, 200 DMAI covered this stock consistently several weeks back. Now price has come down to a level which meets certain technical criteria. 200 DMA decides the future course of a stock. If this level is respected, intermediate target can be 151. So risk to reward ratio is attractive.
AshokLeylandCount the profit, anyone there please!!! Now 119-118 can be the target provided 200 DMA that is 128 does not work as a speed breaker. Jay Ho!!
AshokLeyAs said in the previous posts, price below 159-62 is nearing towards 149 and now may see 144-42 levels.
AshokleylandHalting at 160. So if this level is broken down and tomorrow closes below this level, 149-51 is possible.
AshokLeyland, ConsolidationRecall what has been stated in the two previous posts and accordingly price has came down towards 162. Now if 158-9 is broken, 152-3 is possible target.
Ashokley, ConsolidationThere is a consolidation forming above the breakout and now even if there is a breakout happening, it may quite difficult to cross the level of 171-2 level. As said in the previous post, if 162 is broken on the downside, price can correct till 152-3. In short, it is possible that upside is capped for the near term.
AshokLey, BreakoutBreakout happened taking the price close to 171 which is to play as the touch resistance. Price is now consolidating in a narrow range. And price cannot take out 171, there is good chance of it sliding towards 158 and then 152.
Ashokeleyland, BreakoutIt is a breakout stock. Simply put, it means that traders are ready to pay a higher price since they see value at present and also in future. Now after the good run-up 166 is a strong resistance followed 171. Hence holding above 166 is necessary to see 171.
AshokLey, BreakoutAs posted earlier, now that 162 is conquered (and if the same is held), price can run above 166-167. If prudently managed, breakout stocks make good trades.
Ashok Leyland - Approaching major peak - Elliott Wave countAshok Leyland will complete five waves up around 165. After every five waves up, there will be 3 wave correction. That should bring the price down to 70/80/90 levels.
AshokLey, BreakoutNow 161 is the strong resistance and if the same can be cleared by the bulls then 166 is a done thing. Strong support lies at 154.
AshokLey, BreakoutPosted this study expecting a breakout from the resistance zone and the same has occurred on Friday. The stock is in strong bullish market. Sometimes price pulls back on such breakout to gain momentum. Sometimes it may not do so. It has strong support at 149 and strong resistance at 161. If bulls can clear 161 on closing basis then they can conquer 166.
AshokLey, ConsolidationThe stock is in strong bull market and now entered in consolidation phase. It has strong resistance at 163 and strong support at 143-144. It is buy at support and NOT sell at resistance since we don't when it may breakout.
ashok leyland great opportunity to buy.Buy Ashok Leyland if you are long term investor. It has potential to give multi fold returns. Everything is good about company. Share price is lower and it is moving upward steadily.
ASHOKLEY Triangle FormationTriangle formation in ashokley with 112 acting as strong support.
Demand zone at 112 to 115.
Risk averse can short 112.5 PE
