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Ashokleyland

{ASHOK LEYLAND}:[{USING ELLIOT WAVE NOMENCLATURE}] WAVE 1 : Wave 1 can be either a 5 Wave Sequence structure or a 3 Wave Sequence structure as well, but a 3 Wave Sequence comprises of two 5 Wave Impulse structure hence when Wave 1 is a 3 Wave Impulse WAVE 3 is supposedly way bigger than WAVE 1.(In the above pic also we see WAVE 1 is a 3 Wave Impulse structure.) Let's Move to WAVE 2 . . . WAVE 2 : Wave 2 and or Wave 4 both are formed in one timeframe lower to the timeframe in which Impulse is formed, as correction structures have less volume than the Impulses hence we can have a clearer picture in one timeframe lower to the one in which Impulse is formed. Similarly we have a 3 Wave Correction structure in 3 Months chart which defines WAVE 2 a simple correction structure. Wave 2 is typically 50%, 61.8%, 76.4%, or 85.4% of wave 1.(When we have a 3 Wave Impulse in Wave 1 it shoots from 50% due to more power as there is a double Impulse) WAVE 3 : Wave 3 is what brings us all to the table; the wave every trader wants to surf . . . Here's ur chance, We have checked that Price has retraced 50% of the Wave 1 as per Fibonacci Retracement tool. Similarly we can find out the Target of Wave 3 using Fibonacci Extension tool as follows.
NSE:ASHOKLEYLong
by WavesandZones
ASHOK LEYLAND BULLISH CUP & HANDLE BREAKOUT | 1:2.5 RR | SWINGAs Nifty is trading above its resistance area, it looks like the growth is being pushed by AUTO and FMCG Sector. AUTO Sector has recently broken out of its resistance area and it seems it will continue to go higher in upcoming weeks. Checking out AUTO STOCKS, Ashok Leyland looks a good pick. The price has broken out of its resistance area and is trading above Daily 200 EMA. Also, the price has broken out a Cup and Handle Pattern, which is a bullish pattern. Entry- 147.5 TARGETS 1- 154 2-160 STOP LOSS For aggressive traders- 144 For conservative traders- 142 This is a SWING TRADE Let me know in the comments section if you want me to analyse any other financial instrument. WARNING:- ALWAYS FOLLOW RISK MANAGEMENT AND POSITION SIZING WHILE TAKING ANY TRADE.
NSE:ASHOKLEYLong
by rohitkukreja
3
ASHOK LEYLAND Trend AnalysisThe second-largest Commercial Vehicle manufacturer in India. Already manufactured 40 electric buses for Chandigarh which will be operated under Switch Mobility Automotive Ltd. The high cost and range of EVs are the barriers unless every state govt. plans to start their fleet of EV buses and battery tech evolves with proper charging infrastructure. Private players will be the last to switch from ICE to EVs unless govt. gives better subsidies. As per FAME India scheme , the incentive is linked to battery capacity i.e. Rs.10,000/KWh for e-2W, e-3W and e-4W. Then comes the flex fuel engines which will bridge that gap meanwhile considering no charging infrastructure developed as of now, which may develop by 2030 to sustain EVs ecosystem. I don't see any good reason to buy such over valued stocks considering their fundamentals just because of EV hype. Fundamentals are not good though turn around potential might happen in future if sales improve with reduction in debt. OPM% came lower on account of steep rise in raw material cost. I don't want to copy paste the data which are readily available at screener.in to keep my posts short and to the point, kindly check the fundamentals there. Technically price is heading towards its resistance level around 150 with decline in volume and potential divergence with awesome oscillator. Though it looks like reverse Head & Shoulder pattern, it is just an extended pullback (X wave of WXY correction). Accumulate around 70-80 levels as it lies at the Golden FIB with confluence of trendline support and edge of the pitchfork. Short term swing target @ 120 (55% ROI with 3.47 R:R) Medium term positional target @ 185 (139% ROI with 8.76 R:R) Long term positional target @ 270 (249% ROI with 15.67 R:R) Stop loss @ 65 (Optional) Every detail I wrote here are my views only. Do your own due diligence before taking any action. Peace!!
NSE:ASHOKLEY
by Swastik24
9
Swing Trading Idea Ashok Leyland 1to 3 monthsSwing Trading Idea Ashok Leyland 1 to 3 months Disclaimer: These levels are purely based on Price action/demand and supply zones & and consumed only for educational purpose & should not be taken as buy/sell recommendation. I will not be responsible for any loss/profit incurred if anyone takes trades based on my views. Please consult your Financial Advisor before making any trading decision. Leave a comment that is helpful or encouraging. Let's master the markets together.
NSE:ASHOKLEY
by sbkurandwad77