Moneycontrol
Last Updated : Nov 09, 2018 10:54 AM IST | Source: Moneycontrol.com

Buy Ashok Leyland with 12% return: Shitij Gandhi

Traders can accumulate the stock in a range of Rs 118-120 for the upside target of Rs 133 with a stop loss below Rs 110.

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Shitij Gandhi

Ashok Leyland made a double bottom pattern on daily charts around Rs 105 and recovered sharply thereon towards Rs 121. Additionally, the stock has given breakout above the symmetrical triangle pattern after consolidating in the range of Rs 110-120 for more than three weeks.

On the weekly charts as well, the stock has managed to close above its 100-day exponential moving average which is again a positive signal.

Traders can accumulate the stock in a range of Rs 118-120 for the upside target of Rs 133 with a stop loss below Rs 110.
First Published on Nov 9, 2018 10:54 am
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