Ashok leyland has been consolidating in a cup and handle pattern since 2019 and is on the verge of a breakout. A weekly closing above 170 will confirm the breakout which will the stock to 200+ levels in short time. Stock is looking bullish and can be added on dips upto 155 with a SL of 144 DCB.
Chart looks similar to Midhani which gave a sharp upmove after breakout
Note:-Idea is shared for educational purposes and should not be considered as a recommendation.
Is this stock still bullish? Will it break 191 & reach 200 in sept month. By when we can expect 200
tradewithamey_
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@Gupta.engineers20 Yes, the stock is still bullish but no one can predict when the share will reach a target. it can take just a day or it can take months of consolidation.
tradewithamey_
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@Gupta.engineers20 My personal feeling is 200 is an achievable target in September. However, market is in correction phase so it can impact this stock as well. I hope i answered that well.
tradewithamey_
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@Gupta.engineers20, Hi, as i had said, market is unpredictable. Stock took 8 months of consolidation to break 200.