Target: Rs 154
Stop Loss: Rs 132
Ashok Leyland has recently broken out of a rounding bottom formation, consistently making higher highs and higher lows on the daily chart. This breakout was followed by a successful retest, and the stock is now showing renewed upward momentum. The move past its recent swing high, along with the formation of a bullish candle marking a fresh all-time high, adds to the confluence of bullish signals that strengthen the overall setup. A decisive close above Rs 140, supported by strong volumes, would further confirm the breakout and open the path toward Rs 154 in the near term.<\/p>\n
From a trading perspective, a buy-on-dips strategy near the current level looks attractive, with immediate support at Rs 134 and a stop-loss at Rs 132 to manage risk.<\/p>\n
(Amruta Shinde, Research Analyst, Choice Broking)<\/p>\n
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)<\/p>\n","protected":false},"excerpt":{"rendered":"Target: Rs 154Stop Loss: Rs 132Ashok Leyland has recently broken out of a rounding bottom formation, consistently making…\n","protected":false},"author":2,"featured_media":3327,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[22030,22031,114,22028,22032,85,46,22027,22029,190,211,22026,22033],"class_list":["post-24421","post","type-post","status-publish","format-standard","has-post-thumbnail","category-markets","tag-ashok-leyland-stock-pick","tag-axis-bank-technical-breakout","tag-business","tag-buy-on-dips-strategy","tag-dr-reddys-labs-stock","tag-il","tag-israel","tag-it-pharma-stocks-rally","tag-kfin-technologies-target","tag-markets","tag-nifty-outlook","tag-stock-ideas-today","tag-stock-recommendations-september"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/24421","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=24421"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/24421\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/3327"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=24421"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=24421"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=24421"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}