Avoid Ashok Leyland, says Hemen Kapadia

Hemen Kapadia of KRChoksey Securities told CNBC-TV18, "Ashok Leyland looks better than the rest of this market and better than most of the auto stocks. The signals are mixed been in its range for now 7 months roughly between Rs 78 and 100. Some of the longer term mechanical indicators have turned bearish and given a sell on a monthly chart. So, I don’t know situation seems fluid enough and market itself looks shaky, so I don’t think I have a clear buy call on Ashok Leyland now, not at this level.""It has bounced back on Rs 78 a number of times. We are much above that, so if one wants to take that call it should be closer to Rs 78 not at these levels," he added.