Expect Ashok Leyland to test Rs 90: Shubham Agarwal

Shubham Agarwal of Motilal Oswal Securities told CNBC-TV18, "On the medium-term chart of Ashok Leyland we saw that Rs 77 was very important hurdle for stock which it has been able to clear and post then we have seen a temporary consolidation happening on charts. So we believe that overall setup remains healthy. There is a good outperformance that we have seen from this stock coming in and we believe that should remain intact. So we expect target of Rs 90 in a timeframe of about a month and this can be traded with stop loss of Rs 76."At 09:15 hrs Ashok Leyland was quoting at Rs 81.40, up Rs 0.40, or 0.49 percent. It has touched an intraday high of Rs 81.40 and an intraday low of Rs 81.05.