Wednesday, November 9, 2011

Technical call for day 09-11-2011 Ashok Leyland

Ashok Leyland has stuck up in range( 24-28) from last 6 months, normally if any stock trade in a range for so long time; it shows good run once it breaks its range. We believe something like that in Ashok Leyland too, so it will be really good buying candidate for short to mid term.

Momentum indicator like ADX & volume indicator like OBV also showing positive sign, we think buying can be done in this counter only above 28.20 with strict stop loss below 27. Target will be 30 in short term & for mid term it is 34.

Happy Trading ....

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