Chart of the week. Ashok Layland (9/10/21)

9 באוק׳ 2021

Ashok Layland is about to give a cup and handle and up flag breakout on weekly charts. Since it has not given a clear breakout I would recommend to buy 50% @ CMP and remaining 50% on each dip up to 122 or once it crosses above 137 on weekly closing basis. If anyone wants to initiate short term trade, target would be 167.5 with SL of 122 Weekly closing basis. However, in my opinion, the stock is good for long term investment. An investor should hold it for longer term (1 year plus) for the targets of 250 and above.

Target - 167.5
View - Medium term ( 3-6 months)
SL - 120 W