Just have a look
at the Ashok Leyland weekly chart below. If you see prices 12 months ago, the
stock has risen nearly 30% whereas index has fallen almost 20%. Easily
the stock has outperformed the index. We expect this out performance to continue. Also for last 6 months, the stock
is consolidating in the range of 80 to 95. The stock has formed solid
base around 65 levels.as well.
So
I think this stock should be always on the radar. So short term traders can go long in the stock for target of 115 with a stop of 79. Long term investors can enter the stock for target of 250.
