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.
