ASHOKLEY trade ideas
NSE:ASHOKLEY Sell For 27 Nov 2018NSE:ASHOKLEY sell initiate for 27 Nov 2018 using 1 hour chart based on Fibonacci levels,
check below Sell level :
Sell Below : 108.55
Stop Loss : 110.55
Target : 106.7
Ashok Leyland Beginning of downtrend.Unless we get some great news here, this stock is gonna go in a long downtrend if we break the neckline/support at 105.5.
1) Head and Shoulder signalling trend reversal from bullish to bearish.
2) Descending triangle signalling bearish pattern.
My previous idea had a target of 116-118, which we might not reach. I am going to close my long trades here and will open positions only if we break out of the triangle.
I am seeing a good R/R hereBounced off the current levels four times before making it a strong support, in a short term downtrend forming a descending triangle. Could see narrow range in the coming few days before it breaks out of the triangle. I would place my buy here and next buy at 100. A huge upside potential, a break upward from the triangle could start a new rally and we could see 20-25% gains, or more. The risk to the downside is low. The volume is extremely good. Traded in a narrow range with a huge volume today, so that's a good amount of accumulation
You could place your buy here or wait for the break out from the triangle. I have opened long positions at 105.8
Short ashokleyIt has given breakout on daily Chart, macd rsi and Bollinger band also giving short signal
ASHOKLEY Breakout possible. After a long downtrend and following consolidation, the stock now has shown a positive momentum but somehow is rangebound, any price movement above 135 will take it to 140 -145 in a short term rally. Buy above 135 with target 140 - 145 and stoploss 130.
Ashok Layland Short Term BearishThe last wave v=V=3 is completed.
Internal counts are also given.
Now it is correcting for 4th wave.
At present wave a of 4 is completed and b is running up
and wave c will start soon to reach up to 100 -110
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.
