Ashok Leyland

#1
Ashok leyland surged above its barrier of 30 -31 yesterday. It showed good volumes too.. it opened and touched 35 today !! the last quarter results were also good.

I would like to hear on the target levels for this counter.

Shirish
 
#2
I think opening Trade at 35 was a freak trade.If you look at BSE opening it
is 31.60.

According to Motilal Oswal securities, the Target is 34, based on fundamentals.

Technically, I do not know how to arrive at the Targets::) .But it has
broken out ..........
 
#3
smatrix said:
Ashok leyland surged above its barrier of 30 -31 yesterday. It showed good volumes too.. it opened and touched 35 today !! the last quarter results were also good.

I would like to hear on the target levels for this counter.

Shirish
Hi Shirish,

Ashok Leyland :Nice breakout from an ascending triangle on good volume.Now in the middle of a pullback as expected.If the 30 levels hold up as support,would be a good entry and add over 33.5.Targets wise,raise the stop loss at every previous pivot low and trail stop upwards.

Happy Trading!
Saint
 
U

uasish

Guest
#5
smatrix said:
Ashok leyland surged above its barrier of 30 -31 yesterday. It showed good volumes too.. it opened and touched 35 today !! the last quarter results were also good.

I would like to hear on the target levels for this counter.

Shirish
In Get. daily PTI not in favour ,wkly 5th completed but u know better than me that it can be a extended wave becoz,wkly Stoc(14,3) RSI ,ADX all in favor moreover on Mnthly 3rd wave & XTL IN 3 Time frame in favor also DMA in 3 time frame is below stock price.Monthly Resis @33.64/35.47/36.60/38.43
with a stop loss of 30.60 hold; next sat review if 33.64 is taken out increase
stop loss to 31.82.
Rghds
Asish
 
#6
if it passes 35 with heavy volumes and stays there for some time then it will go for mid forties otherwise it stays around lower thirties or higher twenties. But pick it if u get it below 30.
 

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