Ashok Leyland daily chart:
The stock was in a descending channel (bull flag), indicating a pullback in a larger uptrend.
It recently had a bullish breakout from the channel with strong momentum, suggesting the bulls are trying to resume the uptrend.
Price is now pulling back to the breakout zone (~231), which is a typical "breakout pullback" setup.
As long as price stays above the support zone (~231), the trend is bullish with a potential target near 255 (measured move).
If the price drops below 214, the breakout may fail, and a deeper correction could follow.
Summary: Bullish breakout with a healthy pullback; watch for a bounce near 231 to confirm continuation toward 255.
The stock was in a descending channel (bull flag), indicating a pullback in a larger uptrend.
It recently had a bullish breakout from the channel with strong momentum, suggesting the bulls are trying to resume the uptrend.
Price is now pulling back to the breakout zone (~231), which is a typical "breakout pullback" setup.
As long as price stays above the support zone (~231), the trend is bullish with a potential target near 255 (measured move).
If the price drops below 214, the breakout may fail, and a deeper correction could follow.
Summary: Bullish breakout with a healthy pullback; watch for a bounce near 231 to confirm continuation toward 255.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.