Stocks To Buy on Monday
Buy Ashok Leyland Target of 120, Stop loss at 104
Ashok Leyland has get the best rollovers. After April derivatives positions remained bullish in May. The stock has risen by 40 per cent in Delivery positions. The open interest has also increased by 40 per cent. Based on fundamentals view, the company is consistently doing well. According to a report released by Credit Suisse the company has get good returns from its Uttarakhand plant. The plant produce about 40 per cent of total production of Leyland, which is tax exempt. This tax rebate is eliminated in 2019-20. Demand factors and cost reduction has improved production which has helped company to get more return, but also rest of industry get the benefit of it. These are some basic points which are denoting a high bullish trend for the stock. We recommend a buying position in Ashok Leyland for Monday trading session with a target of Rs. 120 and a Stop loss at 105.