A closer look at recent Ashok Leyland price chart shows the formation of a double bottom and quadruple top.
77 is proving to be strong price resistance level for the Ashok Leyland stock, with support at 71.8.
Today the price fell and closed almost near yesterday's low. However, the volume was less than 50% of yesterday. This means that the fall in price may not be sustained on Monday when the market opens, and the price will try to break the 77 resistance.
The stock becomes a good prospect for short term trading if it rises above 79.
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