Goal: Rs 154
Cease Loss: Rs 132
Ashok Leyland has just lately damaged out of a rounding backside formation, persistently making larger highs and better lows on the every day chart. This breakout was adopted by a profitable retest, and the inventory is now exhibiting renewed upward momentum. The transfer previous its latest swing excessive, together with the formation of a bullish candle marking a recent all-time excessive, provides to the confluence of bullish alerts that strengthen the general setup. A decisive shut above Rs 140, supported by robust volumes, would additional affirm the breakout and open the trail towards Rs 154 within the close to time period.
From a buying and selling perspective, a buy-on-dips technique close to the present degree appears to be like engaging, with quick assist at Rs 134 and a stop-loss at Rs 132 to handle threat.
(Amruta Shinde, Analysis Analyst, Alternative Broking)
(Disclaimer: Suggestions, solutions, views and opinions given by the consultants are their very own. These don’t characterize the views of Financial Occasions)
