Ashok Leyland may test Rs 100, says Gaurav Bissa

Gaurav Bissa of LKP Securities told CNBC-TV18, "Ashok Leyland has moved up a bit, I would say one can keep a stop loss of Rs 88, it has seen a multiple bounce from Rs 87. The volumes have been good on those bounces from Rs 87. Short-term breakouts are seen at Rs 90 levels, so a short-term breakout has happened, the breakout is supposed to be sustained till Rs 95 whereas longer-term breakouts are seen and if Rs 95 is held, I think in a very short span of time it can head towards the levels of Rs 100-102.""So the risk reward is very favourable, it is in the momentum. It has seen a range for momentum and is coming out of range for momentum. So the chances are that it might be heading towards Rs 100," he said.