Do not buy Ashok Leyland, says Shardul Kulkarni, Angel Broking.
Do not buy Ashok Leyland , says Shardul Kulkarni, Angel Broking.
Kulkarni told CNBC-TV18, "I would not look at buying unless and until I have a very longer term view but chartically nothing looks as a buy at least as of now. Probably you can exclude BHEL from that wherein I would say that yes, the stock may outperform the markets. If the markets fall, the stock may not fall but other than that I won’t look at buying."
He further added, "Ashok Leyland definitely not on the buy list because you are clearly seeing that the stock moving in a sideways range and preferably when the market is not quite bullish, I would not look at buying anything at all.
Disclosure: We do have positions in certain stocks that we have just recommended and we may have recommended them to our clients.
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Market technically overbought; paper supply to weigh: Dutt