At 115.90 the stock was near the blue line which had acted as resistance previously... In Technical Analysis theory, there is a higher probability of previous resistance acting as support and vice versa. Based on this simple rule the trade was initiated.
Today Result NEWS has come out and stock opens with a big gap up and zooms further high in morning trade itself
Decide for yourself whether you want still want to listen to NEWS to make your trading decisions or listen to Charts directly and be a STEP AHEAD
Like & Follow But don't follow me blindly Learn to identify such opportunities independently
Hi Master
What is your take as seeing the bubble on Friday from 129 to 123 back ?
indiamarketoutlook
⋅
@rajeevqwert, Hi Rajeev
I prefer slow movements in stock prices.
Ashok Leyland did move quickly to 129.50. Whether it is a bubble or not only time can tell...
My take was to book profits if it comes near the red line in the short term....
The same was already recommended when price was above 128.
In the medium term / longer run if the stock moves above the red line then further targets may open up for targets of 138 / 158.
I would keep a close eye on the stock and on dips towards yellow / green line or on breakout above the red line I might be venturing again...
Till then wait patiently on the sidelines for the opportune moment...🙂✌
mosmiachel
⋅
Ur analysis is so good.. How do u select such stocks like this..
indiamarketoutlook
⋅
@mosmiachel, Thank you very much for the acknowledgement.
How do I select stocks... No specific tool as such. Trade less, keep patience for the opportune moment... 🙂
What is your take as seeing the bubble on Friday from 129 to 123 back ?