Technical Stock Pick: Ashok Leyland looking weak; time to sell?

Ashok Leyland Ltd, a company in the automobile space, has fallen over 10% from its August 2023 high. Chart patterns suggest further weakness. Short-to-medium-term traders can sell the stock for a target around 150 levels in the next 1-2 months. The stock closed at Rs 170.25 on 24 January 2024, down more than 10%. Short-term indicators indicate a bearish bias. If the auto index faces resistance, Ashok Leyland stock price could face additional pressure.

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