ASHOK LEYLAND | TECHNO-FUNDA ANALYSIS

Ashok Leyland Ltd – 1D

Trend Description: Ashok Leyland continues to maintain its uptrend after breaking above ₹134 and holding above ₹138, its key support zone. The stock has entered a consolidation phase near the breakout region, forming a healthy base. All key indicators (EMA, RSI, Parabolic SAR, MACD) are giving bullish confirmations, indicating sustained momentum with potential for continuation. Support and Resistance Levels: Support: ₹138 Resistance: ₹144.59 Expected Move: If ₹138 support remains intact, price may move toward ₹145–₹150 in coming sessions. A decisive close above ₹145 would confirm another breakout leg. Short Fundamentals Summary: Strong recovery in commercial vehicle demand, improved margin profile, and consistent sales growth. Government’s focus on infrastructure and logistics is an added tailwind. Final Verdict: Buy on Dips above ₹138 – Trend remains firmly bullish.