Buy Ashok Leyland with target of Rs 35: N Jain

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Buy Ashok Leyland with target of Rs 35: N Jain

Nishant Jain, Director, TradeSwift Broking is of the view that one should buy Ashok Leyland for a target of Rs 35 with a stoploss of Rs 29. The stock should attempt to retest its high of Rs 37-38 which it made recently.

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Excerpts from Midcap Radar on CNBC-TV18 Watch the full show » ALSO READ See previous views by Nishant Jain See what other Experts & Brokerages are saying about Ashok Leyland See messages about Ashok Leyland Ashok Leyland BSE | NSE 08/02/12 Are Mutual Funds betting on Ashok Leyland?

Nishant Jain , Director, TradeSwift Broking is of the view that one should buy Ashok Leyland for a target of Rs 35 with a stoploss of Rs 29.

Jain told CNBC-TV18, "Ashok Leyland has corrected about 30% from its peak and thereafter it has taken support at about Rs 28-29 levels. Now this top of Ashok Leyland is significantly higher than the top of the trading range that was there before. Now the stock should attempt to retest its high that is about Rs 37-38 which it made recently. So that's the reason one should buy Ashok Leyland with a target of about Rs 35 and a stoploss of Rs 29."