Ashok Leyland – Bullish- Dow theory- Entry:100 SL: 80 Trgt:130 in 2-4 mnths

[M Prem Rajan]

Based on Dow theory and the price pattern, the company has been steadily bullish except for a small pause, and is continuing to show strength in the upward swing and volume. Ideal entry would be once the price crosses about 100 with good volume with a profit target price of 130 and a stop loss of 80. The risk is a bit high about 20%, but the price can be expected to move up to 130 based on history and trend.

[M Prem Rajan]

The price never reached the entry target and has formed a lower top, cancelling the entry to the trade.

[Author]

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