Moneycontrol
Last Updated : Dec 07, 2018 11:58 AM IST | Source: Moneycontrol.com

Sell Ashok Leyland, targer Rs 95: Hadrien Mendonca

The stock has also broken below its short-term moving averages indicating further downside cannot be ruled out, says Hadrien Mendonca of IIFL.

Moneycontrol Contributor @moneycontrolcom
Ashok Leyland's Circuit S is India's first swap battery bus which is designed for Indian conditions with seating capacity ranging from 25-35 passengers. (Moneycontrol)
Ashok Leyland's Circuit S is India's first swap battery bus which is designed for Indian conditions with seating capacity ranging from 25-35 passengers. (Moneycontrol)
 
 
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Hadrien Mendonca

Ashok Leyland has been under pressure for the past four weeks and has finally broken down from a Descending Triangle pattern on the daily chart.

The stock has also broken below its short-term moving averages indicating further downside cannot be ruled out.

Disclaimer: The author is Senior Technical Analyst at IIFL. The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
First Published on Dec 7, 2018 11:58 am
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