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Technical calls from HDFC Securities: Buy Ashok Leyland, Tata Elxsi

Technical calls from Vinay Rajani, Technical & Derivatives Analyst, HDFC securities

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Vinay Rajani Mumbai

1 min read Last Updated : Jan 22 2020 | 7:37 AM IST

Remain Cautious till Nifty trades below 12,350; mid,small-caps to outperform

Nifty formed bearish engulfing pattern on January 20, 2020 and saw a follow-up selling in the next session. Support for the Nifty is seen around 12,100 odd levels. Traders should remain cautious unless the index surpasses 12,350 resistance. However, Midcap and Small cap stocks are expected to continue their outperformance.

BUY ASHOK LEYLAND (Rs 86.3): | Target: Rs. 90.5 | Stop-loss: Rs 84

The stock price has surpassed multiple top resistances placed at 85 odd levels. Volumes have been rising along with the price rise for last 5 trading sessions. Moving average and

Topics : Stock calls Stock Call HDFC Securities Nifty Outlook Ashok Leyland Tata Elxsi

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