Buy Ashok Leyland with target of Rs 35: N Jain
June 17th, 2009
Nishant Jain, Director, TradeSwift Broking is of the view that one should buy Ashok Leyland for a target of Rs 35 with a stoploss of Rs 29.
Jain told CNBC-TV18, “Ashok Leyland has corrected about 30% from its peak and thereafter it has taken support at about Rs 28-29 levels. Now this top of Ashok Leyland is significantly higher than the top of the trading range that was there before. Now the stock should attempt to retest its high that is about Rs 37-38 which it made recently. So that’s the reason one should buy Ashok Leyland with a target of about Rs 35 and a stoploss of Rs 29.”