Ashok Leyland Limited – Last Close – 51.50(NSE) [11-Mar-2011]

• Bullish breakout spotted few days back on daily chart.
• Strong positive divergence continues on daily chart.
• Last couple of days consolidating above the 38.2% Retracement Support.
• On rise above the stock will test 57 - 59 levels in short term which is 50% & 61.8% retracement level of last leg.
• Good support placed at 50.40 levels.              
• Buy the stock on rise above 53.30 with the stop loss below 50.40 [Closing].