Stock Market Today: Ashok Leyland share price rises over 2.5 pct! Check out this strategy

Stock Market Today: Ashok Leyland share price today soared over 2.5 per cent to Rs 79.75 per stock levels. According to stock market experts, due to the unlocking activities picking up and people not in the mood to use public transport, auto sales are going up and that is getting reflected in the rise of all auto stocks today, which includes Ashok Leyland shares. They said that Ashok Leyland share price target for next two to three weeks can be Rs 95 and one can buy Ashok Leyland shares at current levels maintaining the stop loss at Rs 75.

Speaking on the Ashok Leyland share price target, Sumeet Bagadia, Executive Director at Choice Broking said, "The reason for rise in Ashok Leyland share price is unlock activities picking up and the recent statement by the Union Minister Nitin Gadkari that scrappage policy is to be implemented soon. Currently, Ashok Leyland share price faces a strong hurdle at Rs 87 per stock levels and once it clears this level we can expect it to hit Rs 95 per stock mark in two to three weeks."

Taking cue from the Ashok Leyland share price history, Simi Bhaumik, a SEBI registered technical stock analyst said, "Ashok Leyland share price has remained range-bound from Rs 60 to Rs 75 but it has started to gain momentum in the latter half of last month. I would recommend positional buyers to wait for some profit-booking in the Ashok Leyland stocks and take buy positions at around Rs 78 to Rs 78.50 levels."

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Bhaumik said that Ashok Leyland shares will hit Rs 90 per stock mark soon, once it breaks its minor immediate hurdle of Rs 82. However, she strictly advised stock market investors to maintain the stop loss at Rs 75.