Ashok Leyland - Inside Bar Trade

The stock has been range bound. The last two sessions particularly have seen it reverse between the levels marked.
So this sub-range breakout may be on the cards (or not).

The stock has taken support from the trend line since March & the trend line support is at 50.5.
The Fib retracement levels are drawn on chart - for detailed analysis of it, please see the linked Ashok Leyland Fib levels idea.

Positional Trades:

Go long above 52.6 for 53.5, 54, 55, 56 & 58 with SL at 51 for intra-day trade & 50 for those taking July expiry positions. (Adjust for futures' prices).

Shoring trades will only be attractive with the trend line breach below 50 on the hourly chart to open targets till 48 if not lower.

Zlecenie aktywne:

Buy triggered at 51 on the trend line bet

Zlecenie zamknięto ręcznie:

trailing SL hit at 51.6

Zlecenie aktywne:

Buying on dips at with SL at 49.8 with target of 52.6

Komentarz:

Long above 51 for 52.6, 53.5, 56, 58 with SL at 50.5
Shorting trades will only be attractive with the trend line breach below 50 on the hourly chart to open targets till 48 if not lower