Ashok Leyland can touch Rs 48-50: Kunal Bothra

Kunal Bothra of LKP told CNBC-TV18, "Ashok Leyland is trading at 52-week high. It is trading with a very fair bit of momentum over the last couple of days. Breaking above all the short-term and medium-term resistances the stock could see some bit of more buying happening."

"I am looking at Rs 48-50 from a short term perspective. It could be start of a very strong and a very big rally which could probably last for multi years and stoploss is Rs 43," he said.

At 14:33 hrs Ashok Leyland was quoting at Rs 45.10, up Rs 1.25, or 2.85 percent. It has touched a 52-week high of Rs 45.40.