Ashok Leyland share price to give humongous 20 pct returns in just 3 months! Hot stock tip from experts
Ashok Leyland shares can be bought at around Rs 75 for the target of Rs 90 per stock levels in three months time, say experts.
Ashok Leyland share price: The monthly sales numbers of Ashok Leyland are coming on Monday and stock market experts are expecting them to be weak. They are of the opinion that some negative sentiments may hit Ashok Leyland share price and the auto sector stock may break its current support of Rs 77 and come down to the range of Rs 74 to Rs 75 per stock. However, they are also of the opinion that if the stock reaches these levels from the current ones, which are around Rs 79 to Rs 80, it would be a big buying opportunity for the share market investors. Why? Because Ashok Leyland shares would soon regain lost ground and in next one to three months may even hit Rs 90, say experts.
Elaborating upon the fundamentals that may create a buying opportunity in Ashok Leyland shares, Prakash Pandey, MD & CEO at Plutus Advisors said, "Ashok Leyland's monthly numbers are expected to come on Monday and the market is not expecting strong ones. So, there can be some correction on account of that weak monthly Ashok Leyland numbers. However, the stock will soon regain its lost ground and may scale up to Rs 90."
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On what should be the ideal strategy of a stock market investor in regard to the Ashok Leyland shares, Pandey said that after weak numbers, Ashok Leyland shares won't go below Rs 74 and he advises the share traders to take buy position in the counter at around Rs 74-75 and also maintain stop loss at around Rs 72 per stock levels for three month target of Rs 90.
Highlighting the technicals of Ashok Leyland stocks Simi Bhaumik, a SEBI registered technical equity analyst said, "Ashok Leyland shares are having support at around Rs 77 in the current market scenario. If it breaks the lower level then it has another major support at Rs 74 and in my opinion, it won't break its second support level of Rs 74 and in the coming one to three months I am expecting Ashok Leyland share price to oscillate in the range of Rs 74 to Rs 90."
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