Buy Ashok Leyland; Vedanta may hit Rs 108: Rajat Bose

Rajat Bose of rajatkbose.com told CNBC-TV18, "In Ashok Leyland my stop loss would be below Rs 97 and I would buy on any dip, it could be Rs 101. If it were to cross Rs 106, then also buy, that is going to be my first target and the second target would be Rs 114 but the medium-term target remains around Rs 135-148. However, Ashok Leyland is looking pretty strong; it has broken out of a consolidation zone. All things point to further upswing.""Bharat Forge is one stock that looks very good, in fact I have kept a target of Rs 903 but Rs 903 is essentially the 200-day exponential moving average level but I expect the stock to actually do much better going forward. Caveat here is that yours truly has invested in the stock. For the day put a stop loss below Rs 867 and target should be Rs 892 and Rs 903. This is one stock that you can bet on for the medium-term as well without any problem," he said. "If Larsen and Toubro (L&T) were to actually move above Rs 1,232 to yesterday’s high, then you are buying into it and put a stop loss below Rs 1,220 and the first target that comes to my mind is about Rs 1,280 to about Rs 1,300 because it would be breaking out of a consolidation zone and also clearing maybe after a moving average, the 100-day moving average would also be cleared in the process. So, L&T remains a buy." "First of all I would like to give a caveat that in Vedanta I am also an investor, so, that should go as a disclosure. In Vedanta, I would say that most critical level in this upswing would be Rs 108 where the 200-day exponential moving average is located and it is also another stock in which I have invested in this current upswing and planning to hold it for medium to long-term."He further added, "My stop loss here for the day traders or for the short-term traders would be Rs 87, the targets are Rs 104 and Rs 108. Around Rs 108 you should actually book part profits because it would be the first test of 200-day exponential moving average after a fairly long time. So, there would be some supply pressure around those levels."