Nifty is in range of 11550-11761. It is making complex abc-x-abc correction. Expanding the sideways correction by time.
More time based sideways correction continues in coming few days.
Overall undercurrent is extremely bullish.
So any selling is a buy on dips. Overall trend of medium to long term is still positive.
Don’t try to go short in market at any level.
Catchcash suggestion. Towards Thursday second half of market.
Try to create buying position in range of 11550-11600 for target of 11670-11685. Sl 11540 on Closing basis. Period 3-4 days.
ASHOK LEYLAND MOMEMTUM STOCK
Period 7-8 weeks
Ashok Leyland a formidable name in automobile LCV segment. It is one of biggest beneficiary in next growth trajectory in India infrastructure based economy.
It is making a uptrend in its current form. The base around 87-97 is now a demand zone. Once above 97 it is likely to reach its nearest target of 114-120.
Catch cash suggestion. Hold AshoK Leyland as investment for 7-8 weeks for target of 114/120.