Ashok Leyland is holing on support, is it enough to carry ....

The stock has held on to support levels since couple of weeks. The current momentum is picking up and is expected to move up in the coming weeks. The RSI is into bullish zone and the price is forming accumulation formation. Currently trading at 84 the prices seems to be bit extended. Positions can be created till 82 on corrections above which the stock may rally to 94 & 112 thereafter. 79 levels are key support 76 is critical support levels for the stock. Below which resumption of trend down may occur.

Bharat Jhunjhunwala

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