Buy Ashok Leyland, target Rs 94: Chandan Taparia

Chandan Taparia of Anand Rathi Securities told CNBC-TV18, "The first trading idea is a buy on Ashok Leyland. The stock has been moving in a range of Rs 82-99 levels from the last 60 days. In this series when Nifty is down by around 6.5 percent, the stock is holding the gains of one percent. Overall it has built up long positions and we are expecting it to start the next leg of rally. Recently it has turned from the lower band of the trading range of Rs 82.""I am expecting it to head towards Rs 94 levels. So, suggesting to buy with immediate support and with a stop loss of Rs 85 for the target of Rs 94," he said.