Ashok Leyland share price to rise 25% in one month! Should you buy?

Ashok Leyland share price has escalated from Rs 81.65 per stock levels to Rs 82.85 per stock levels in the last one month. According to stock market experts, Ashok Leyland share price can hit Rs 105 per stock levels in one month's time as its auto sales are expected to go upward once the government announces its new scrappage policy. In their opinion, Ashok Leyland stock price may undergo correction by Re 1-to-Rs 2 more and that would be the most appropriate level to take a buy position while maintaining stop loss at Rs 79.

Elaborating upon the reason for the trigger in the Ashok Leyland stock price, Prakash Pandey, MD & CEO at Plutus Advisors said, "Ashok Leyland is an auto counter and after the new scrappage policy announced by the government, Ashok Leyland sales are expected to pick up in coming days. The recent rise in Ashok Leyland stock can be attributed to this reason and in the next one month, I am expecting it to hit Rs 105 levels." However, he advised stock market investors to maintain the stop loss at Rs 79.

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Dubbing Ashok Leyland a share to buy, Chandan Taparia, Derivative & Technical Analyst at Motilal Oswal said, "Ashok Leyland is a good share to buy. In the immediate short-term, the Ashok Leyland share price may showcase Rs 90 per stock level. But, I would advise share market investors to wait for some correction as it has strong support at Rs 81.50. In my opinion, one should buy Ashok Leyland shares at around Rs 83 per stock levels for the target of Rs 90 in immediate short-term time horizon." Ashok Leyland is currently trading at Rs 82.85 — a level that Chandan Tapariya has suggested to buy the stock.

Highlighting the deviation in Ashok Leyland that stock market investors may witness, Prakash Pandey said, "Ashok Leyland share price will scale up to Rs 94 to Rs 95 per stock levels in immediate short-term and after sustaining above Rs 95 levels, Ashok Leyland shares would soon soar up to Rs 105."