Ashok Leyland; Is it going down the lane
Updated
Ashok Leyland
CMP 100.05
The stock has broken below important zone of 105-110 which acted as support on several occasions for more than year.
Given the setup things look bleak for the stock and can be headed much lower towards 92 / 84 / 66.
View gets invalidated if the stock starts sustaining above 106-110 in the broader setup.
Take care and safe trading...!!!
CMP 100.05
The stock has broken below important zone of 105-110 which acted as support on several occasions for more than year.
Given the setup things look bleak for the stock and can be headed much lower towards 92 / 84 / 66.
View gets invalidated if the stock starts sustaining above 106-110 in the broader setup.
Take care and safe trading...!!!
Trade active
After opening at 99.55 and making a low of 98.8 the stock has risen 2% from the lows to 100.30.
Consider to sell
Trade active
From 100.30 to 93.20. Thats a nice 7% gain in 3 trading sessions. Consider to book partial profits and trail SL to 98 for balance.
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Happy & safe trading...!!!
Note
Ashok Leyland has made a low of 80.80 so farCMP 83.20
Target of 84 well achieved.
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Happy trading...!!!
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