Ashok Leyland, Biocon look good on charts for a rebound: Ajit Mishra

The technical analyst from Religare Broking also recommends to accumulate United Spirits. Check out the range below

Ashok Leyland Limited
Recommendation: Buy
Last Close: Rs 143.35
Initiation range: Rs 140-142
Target: Rs 152
Stop Loss: Rs 137

AshokLey has formed a base around the neckline (breakout) area of the previous consolidation range and looks set for a rebound now. The chart formation of the auto index is also in sync. Traders shouldn’t miss this opportunity and create fresh longs in the mentioned zone.

Biocon Limited
Recommendation: Buy
Last Close: Rs 333.55
Initiation range: Rs 330-334
Target: Rs 360
Stop Loss: Rs 320

We're seeing a mixed trend within the pharma space and Biocon has