Bearish on Ashok leyland: Ashwani Gujral

Ashwani Gujral, Chief Market Strategist, ashwanigujral.com, in a chat with ET Now, speaks about Ashok Leyland


What are your iews on Ashok Leyland?

While today there has been a bump up but it has pretty bearish patterns. Patterns which show that the cycle is probably ending so in case this breaks down below Rs 45 you could over a period of time get down to Rs 30 to Rs 32 kind of levels so Rs 45 is fairly key may be after this bounce back the stock declines again so people should not take this as the bottom for the stock.