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Ashok Leyland – Dow Theory – Bearish Trend Analysis

Ashok Leyland is in bearish phase since June 2018. It is forming only Lower Top and Lower Bottom since then.

Trade Plan:-

Shorted below 78 (previous top was 96 which implies target price as 18 rupees lower than 78).

Entry Price (Short): 76

Target Price: 60 (18 rupees below 78)

Stop Loss: 96 (Previous high)

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