Ashok Leyland can outperform in the long run: Mithil Pradhan

ET Now spoke to Mithil Pradhan, Market Analyst, on his views on stocks.

ET Now: What's the call on Ashok Leyland?

Mithil Pradhan: Ashok Leyland had a 5x sort of a rally. If you see from March 2009 lows, it was trading at about 13-14 bucks, today it is trading at Rs 70.

Now it is very difficult to call a top to a stock, which is rallying so forcefully but what I do see is that the stock might have completed a five-wave rally, which then allows the stock to go to about 55-60 sort of levels. If somebody wants to go long, this is not the price to go long but in a longer term, this stock can outperform.