Bullish Reversal in Ashok Leyland: Targets 190 and 220

13 nov 2023

I have identified a potential bullish reversal in Ashok Leyland based on the following factors:

1. [Reverse Fibonacci Levels:]

The stock has shown a reversal at key Fibonacci levels, indicating a potential shift in the trend.

Break of Trend Line:
Ashok Leyland has successfully broken above a significant trend line, suggesting a change in the prevailing downtrend.

Targets:

The first target for this potential upward movement is set at 190, representing a key resistance level.

A more extended bullish move could see the stock reaching a second target at 220.

This analysis is based on technical indicators, and as always, it's essential to consider other factors such as market conditions and company news.