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ASHOK LEYLAND LTDASHOK LEYLAND LTDASHOK LEYLAND LTD

ASHOK LEYLAND LTD

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ASHOKLEY trade ideas

Investment pick of the week!Ashok Layland made its previous high on April 18. After 5 years of consolidation and after testing the resistance multiple times it has finally given breakout. Now the stock will trade under blue sky so there will be no possible upper limit. This is the right time to invest in the stock as Layland is the third best company when it comes to bus production. The stop loss given here is for the traders. An investors should keep a deep stop loss of 130 or even more on weekly closing basis. CMP - 171 (14/7/23) T - 250, 380 W SL - 158 W
NSE:ASHOKLEYLong
by AbNamjoshi
{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.
NSE:ASHOKLEYLong
by WavesandZones
ASHOK LEYLAND BULLISH CUP & HANDLE BREAKOUT | 1:2.5 RR | SWINGAs Nifty is trading above its resistance area, it looks like the growth is being pushed by AUTO and FMCG Sector. AUTO Sector has recently broken out of its resistance area and it seems it will continue to go higher in upcoming weeks. Checking out AUTO STOCKS, Ashok Leyland looks a good pick. The price has broken out of its resistance area and is trading above Daily 200 EMA. Also, the price has broken out a Cup and Handle Pattern, which is a bullish pattern. Entry- 147.5 TARGETS 1- 154 2-160 STOP LOSS For aggressive traders- 144 For conservative traders- 142 This is a SWING TRADE Let me know in the comments section if you want me to analyse any other financial instrument. WARNING:- ALWAYS FOLLOW RISK MANAGEMENT AND POSITION SIZING WHILE TAKING ANY TRADE.
NSE:ASHOKLEYLong
by rohitkukreja
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