I have identified a potential bullish reversal in Ashok Leyland based on the following factors:
The stock has shown a reversal at key Fibonacci levels, indicating a potential shift in the trend.
Break of Trend Line:
Ashok Leyland has successfully broken above a significant trend line, suggesting a change in the prevailing downtrend.
Targets:
The first target for this potential upward movement is set at 190, representing a key resistance level.
A more extended bullish move could see the stock reaching a second target at 220.
This analysis is based on technical indicators, and as always, it's essential to consider other factors such as market conditions and company news.
The stock has shown a reversal at key Fibonacci levels, indicating a potential shift in the trend.
Break of Trend Line:
Ashok Leyland has successfully broken above a significant trend line, suggesting a change in the prevailing downtrend.
Targets:
The first target for this potential upward movement is set at 190, representing a key resistance level.
A more extended bullish move could see the stock reaching a second target at 220.
This analysis is based on technical indicators, and as always, it's essential to consider other factors such as market conditions and company news.