ASHOK LEYLAND : WEEKLY CHART : HEAD & SHOULDER PATTERN

ASHOKLEY forming a Head & Shoulder Pattern on Weekly Basis. It just took a rejection from its Neck Line area, which is really a very crucial level for the stock. Closing below the NECK LINE may open further downside for the stock.

100 is a very big support level for this stock physiologically, if stock gives a closing below it's Neck Line may take it to 100 and if stock falls further then next support area is 85-90.

Also, there are number of bad news floating in the market which are creating selling pressure and apart from this Rupee is getting weaker and weaker etc.. :>> MY VIEW FOR THIS STOCK IS STRONG BEARISH FOR NOW.

Commento:

Range 100-105 is acting like a very very great support.