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Buy ASHOKLEY in Cash @226.8 & Add Upto 217 TGT 251/264

Ashok Leyland is trading at 226.8 and is on the verge of breaking out from a falling channel on the weekly chart. The stock is consolidating near resistance with significant volume, indicating strong buying interest. A close above 230 could confirm a breakout, with potential upside targets of 251 and 264 in the short to mid-term. Any dip near 217 can be considered a buying opportunity as the stock continues to form higher highs and higher lows.

Momentum indicators support this bullish outlook, with RSI at 59 trending upward, signaling increasing buying strength. The Stochastic RSI has also shown a positive crossover from the oversold region, reinforcing the potential for further gains. On the daily chart, the price has given a crossover of key exponential moving averages (20-50-100-200), further confirming bullish momentum.

With strong technical support and improving momentum, traders can look to buy at the current level and add on dips up to 217. A sustained move above 230 would provide confirmation for higher targets of 251 and 264.

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