Ashok Leyland a technical view ( February 10, 2015)
Since the long term chart is showing that wave 3 has ended and 4 has begun, it would be prudent for investors,to use the imminent upmove on budgetary conditions to get out of Ashok Leyland for the time being. For the short term of a month or so, Ashok Leyland can be bought and possibly sold off post budget.
After the 4th wave, which may last a few months, (fewer than wave 2 because wave 2 was complex and so wave 4 could be simple) Ashok Leyland could be bought for the medium term and ride wave 5 upwards into 2016. If Ashok Leyland is available between Rs 45-50 after the budget correction, it may be a good medium term buy.