Weekly stock picks by Religare Broking: Buy Ashok Leyland, Bata India

Ashok Leyland has been rebounding for the past five months and is now trading on the verge of fresh breakout from the consolidation range

Buy Ashok Leyland Limited 

Last Close: Rs 81.50 

Initiation range: Rs 81-82 

Target: Rs 87 

Stop loss: Rs 79 

We’re seeing steady rebound in the auto space and ASHOKLEY is no different. It has been rebounding for the past five months and now trading on the verge of fresh breakout from the consolidation range. Traders shouldn’t miss this opportunity and create fresh longs in the mentioned zone. 

Buy Bata India Limited 

Last Close: Rs 1,751.55 

Initiation range: Rs 1,735-1,745 

Target: Rs 1,830 

Stop loss: Rs 1,700
 

BATAINDIA has witnessed a fresh breakout from a consolidation range of late after spending nearly two months in a range. All