Ashok Leyland: Bullish Reversal with Strong Upside Potential

Ashok Leyland is showing strength near its major support range of 212-220, and the daily chart suggests potential upside targets at 243.27 and 258.10. These targets could be achieved within the week, supported by several technical indicators pointing towards a bullish reversal.

Long-term RSI levels are all above the critical 50 mark, indicating positive momentum, with the exception of RSI-7, which is trailing behind, suggesting there’s still room for the shorter-term RSI to catch up and drive further gains.
Additionally, a perfect hammer candle has formed on the weekly chart at this support zone, a classic signal of a potential bullish reversal.
With the technicals lining up, Ashok Leyland looks poised for a strong move upwards, making it a stock to watch closely in the coming days.