Ashok leyland opened flat but during today's session the price dropped more than 3%. A strong body red candle broke the support of 175.90 which is a shallow pullback retracement level of 23.60%. Also it's important to mention that the moving averages are in a bearish cross. So, all these indicate a downtrend. The next important level to consider is 166.80 which could act as a strong support.
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Disclaimer: This is my pre market analysis and my trading journal. Not a suggestion to buy or sell. The material is only for educational purposes.
Thanks
Er. Simranjit Singh Virdi
Hit the like button!! Show some energy!!
Disclaimer: This is my pre market analysis and my trading journal. Not a suggestion to buy or sell. The material is only for educational purposes.
Thanks
Er. Simranjit Singh Virdi
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Today's candle confirms the previous bearish signal of the evening star pattern. Also the support is broken by the evening star. From here the price could test the levels of 166
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