amankavi

Ashok Leyland : Rising with glory

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amankavi 已更新   
NSE:ASHOKLEY   ASHOK LEYLAND
The scrip has seen bullish momentum and rising in ascending channel since 3 months regardless of NIFTY corrections

It can manage to reach TP=115, 120 (Call 15-20 days) even the momentum continues as the trend repeats with %william consolidating in overbought channel for significant time..
Shown strong resistance and rebound from necline (support) levels around 100

Rest in chart..
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Spinning top..to decide the indecision created and if bears manage to dominate, the scrip can see healthy corrections till TP=100
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If the scrip is moving upwards in rangebound trendlines. One can again aim for higher high (137) by entering at current levels and beyond, if breakout would occur
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The scrip appears to form descending triangle which is a bearish formation that usually forms during a downtrend as a continuation pattern. Should be appropriate to buy on dips if breakout occurs..

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Scrip has again come back from the retracement

Today candlestick has resulted in bullish pin bar with several similar occurrences in the past few sessions

Bullish Reversal Pin Bar Formation

In a bullish pin bar reversal setup, the pin bar’s tail points down because it shows strong rejection of lower prices. This setup very often leads to a rise in price. The bulls have managed to pull up the price upto good extent

Planning to enter at 112-115 (Strong support zone) as the company is also showing progressive sales growth post GST. It is bound to cross the resistance zone of 130-134
评论:
Scrip is bound to cross 200+ levels with company showing very solid results QoQ, YoY in 8-10 months

Time to add on dips keeping SL at 100

- Revenues increased by 58%
- Net profit increase by 178%
- Sales volume in LCV and M&HCV) increased significantly
- Finance Costs decreased

www.indiainfoline.co...-118020101003_1.html
评论:
Company again posted stellar results however market isnt supporting the trend. Again, It is giving chance to enter. Would love to enter around 120-130 price levels aiming for target posted on feb.09

economictimes.indiat...cleshow/64225967.cms

Three black crow pattern (in formation) - Marking a steady decline in price and not having long lower shadows or wicks.


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