Breakout in Falling Wedge, Ashok Leyland

It’s a couple of weeks ago I had told you regarding a Falling wedge pattern forming on Ashok Leyland along with divergence. We had seen a Breakout yesterday, I expect a rally.   

The Resistance are as follow

Previous article on Ashok Leyland: Click Hear

Ashok Leyland, a falling wedge

After witnessing Ashok making some lows, I smell some bullishness in this stock. It is recent; I have spotted a falling wedge formation along with a divergence forming. According to me, Ashok Leyland is going to make a new low then will get ready to shoot high.

We have recently seen MACD making a negative crossover and RSI giving a buy signal.

Conclusion:  wait till pattern complete, look for divergence.