Dow Theory-Ashok Leyland

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This chart of Ashok Leyland gives a good example of entry and exit points using Dow Theory. H.T refers to ‘higher top’ and H.B refers to ‘higher Bottom’.This is a five year chart and the area i picked to mark also forms a head and shoulder pattern. A pre requisite to entering the market is a higher top followed by a high bottom and then again a higher top followed by a higher bottom.