ASHOKLEY - Technical Analysis

Last Updated Time : 02 Aug 25, 12:58 am

Technical Rating: 3.8

📊 Technical Overview of Ashok Leyland Ltd. (ASHOKLEY)

📈 Trend Analysis

Current Price: ₹123

50 DMA: ₹121

200 DMA: ₹114

Trend Status: The stock is in a mild uptrend, trading slightly above both moving averages. Price action shows a recovery from the recent low of ₹95.2, but momentum is gradual and not yet strong.

📉 Momentum Indicators

RSI (50.6): Neutral — hovering around midline, indicating lack of strong momentum.

MACD (0.49): Barely positive — suggests weak bullish crossover, but not a decisive signal.

Volume: 66.9L vs 1-week avg of 80.1L — below average, indicating low conviction in current price movement.

📊 Bollinger Bands

Price likely near the middle band, consistent with RSI and MACD neutrality.

Bands are narrowing, indicating low volatility and consolidation.

📈 Moving Averages Summary

Indicator Value (₹) Signal

50 DMA 121 Near-term support

200 DMA 114 Long-term support

Current Price 123 Slightly above both — mild bullish bias

🔍 Support & Resistance Levels

Type Price Range (₹) Notes

Support 1 118–121 50 DMA zone

Support 2 110–114 200 DMA zone

Resistance 1 127–132 52-week high zone

Resistance 2 135–140 Breakout level

🎯 Entry & Exit Strategy

Optimal Entry Zone: ₹118–₹121 (on dip near 50 DMA)

Exit Zone (Short-Term): ₹127–₹132 (initial resistance), ₹135+ (if breakout confirms)

Stop Loss: ₹115 (below 200 DMA)

📌 Summary

Trend: Mildly trending upward

Momentum: Weak and indecisive

Volume: Below average — needs confirmation

Setup: Suitable for watchlist or range-bound trading; breakout above ₹132 with volume would strengthen bullish case

Would you like a scan of other commercial vehicle or auto OEM stocks showing stronger MACD and RSI signals for short-term trades?

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