ASHOK LEYLAND LTD. | TECHNICAL ANALYSIS | @priceactiontrader13 | MARKET WALE

STOCK : Ashok Leyland ltd.

CMP :- 181.85 (20/07/2023)

ABOUT : Ashok Leyland Ltd. is an Indian multinational automotive manufacturing company headquartered in Chennai, Tamil Nadu, India. It is a flagship company of the Hinduja Group, one of the largest business conglomerates in India. Ashok Leyland is known for producing commercial vehicles such as trucks, buses, and light commercial vehicles.

TECHNICAL ANALYSIS CANDLE STICK CHART VIEW (WEEKLY TIME FRAME )

(CLICK ON ABOVE IMAGE FOR CANDLE STICK CHART VIEW)

OBSERVATION :

The stock has been consolidating for a long time and in a wide range and this week the stock has been closed above its resistance zone of (177.50) with big GREEN ENGULFING candle which means we can expect  the stock to show good upside rally. Expecting the stock to show (20-25%) upcoming weeks/months.

PIVOT POINTS LEVELS : 211/253/295/338.

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Note : It's important to note that the pattern is just one of many chart patterns used in technical analysis, and traders should always use multiple indicators and techniques to confirm their analysis before making trading decisions

Disclaimer: This analysis is purely for educational purpose and does not contain any recommendation. Please consult your financial advisor before taking any financial decision.

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