Technical Pick – Ashok Leyland
•Ashok Leyland is finding support at 112 and resistance above 115.
•On Daily chart, Ashok Leyland is showing breakout point above 115 level.Break and sustain above Ashok Leyland will see nonstop rally in Ashok Leyland till 118--123++ in weeks to come.
•Ashok Leyland has been trading in a broader range of 73--115 for last one year.
•MACD showing positive momentum which indicates that upside side seems certain in it.
•Traders don’t go for aggressive or positional selling at all because trend looks positive and we expect rally to remain continue till 118--123+++mark in coming weeks.
For positional trade, stop loss seeing below 112 on closing basis which in unlikely to breach in near terms.
Trading Recommendation(08-09-17)
Buy Ashok Leyland above 115 and for the initial upside target of 118--123++ mark with stop loss below 112 on closing basis.
More will update soon!!
