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Ashok Leyland entered a bullish run on Dow Theory from the bottom at 81.2 on 19-Apr-2017.
After that bottom it witnessed continued higher top and higher bottoms which created a buying opportunity at first higher top at 97 on 03-Jul-2017. This breakout was also supported by very high volume on the day.
The stock continued with the higher top – higher bottom pattern until it’s first lower bottom on 25-Jun-2018.
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Hi Aditya, if we are taking a risk of 9.8 (Entry point-Stop loss), then it is good to expect same quantum of reward. So keeping the exit or target as 97+9.8=106.8 will be a good deal, based on risk to reward ratio. Please correct me if I am wrong. 🙂
#So keeping the exit or target as 97+9.8=106.8 will be a good DEAL, based on risk to reward ratio.
Please read it as
#So keeping the exit or target as 97+9.8=106.8 will be a good PRACTICE, based on risk to reward ratio.