ASHOKLEY 21.07.2018 03:50PM

Ashok leyland stock’s technical chart has taken the formation of “Fallingchannel” pattern in a daily time frame. As we can see that the last session has formed an “Inverse Hammer” candlestick pattern, which could be read as a trend reversal one. As per the technical aspects, the retest is expected to turn the trend to bullish. The positive rally could be testing all the way through 115-120-124 levels in the upcoming sessions. On the other hand, the stock might have a chance to turn negative once the market breaks below the key support holding at 104. And the downside rally could test 100-98 levels. Key resistance holds at 124.

Technical Chart:

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