The stock of Ashok Leyland has been in a steady uptrend since April last year. It established a rally on the back of the support at ₹100. On February 11, it hit a record high of ₹215.35. Following this, it witnessed some moderation. On Friday, the scrip rebounded from the support at ₹202, where the 21-day moving average and a trendline support coincide. This indicates that the bulls have regained traction after a pause and thus, we expect the stock to rally and make fresh highs in the forthcoming sessions. Buy the stock at ₹208 and place a stop-loss at ₹200. When the price rises to ₹215, revise the stop-loss to ₹206. Tighten the stop-loss to ₹210 when the stock reaches ₹225. Book profits at ₹230.
(Note: The recommendations are based on technical analysis. There is a risk of loss in trading.)
Published on February 23, 2026