OUTLOOK:- ASHOK LEYLAND HAS MORE CHANCES OF BOUNCING BACK THAN EVER. ON THE ABOVE CHART, YOU CAN SEE, THE STOCK IS NEAR ITS VERY STRONG SUPPORT OF 75. I EXPECT IT CAN BOUNCE 30% FROM HERE TO LEVEL 100 AND 8-10% BOUNCE CAN HAPPEN IN A FEW DAYS. IT HAS FORMED "HEAD AND SHOULDER" PATTERN DURING ITS FALL AND ITS SELL TARGET (FROM THAT PATTERN) IS ALSO COMPLETED. SO, THE BOUNCE IS MORE LIKELY.
FIRST TARGET 200 EMA = 97.17 ( WEEKLY CHART ) ( POSITIONAL VIEW FOR 15 MARCH )
SECOND TARGET 100 EMA= 111.42 ( WEEKLY CHART ) ( POSITIONAL VIEW FOR 30 MARCH )
FIRST TARGET 200 EMA = 97.17 ( WEEKLY CHART ) ( POSITIONAL VIEW FOR 15 MARCH )
SECOND TARGET 100 EMA= 111.42 ( WEEKLY CHART ) ( POSITIONAL VIEW FOR 30 MARCH )