Tech Query: Ashok Leyland, Persistent Systems, Jupiter Life Line Hospitals, Inox Wind - What is the outlook? Where are these stocks headed?

I have bought Ashok Leyland shares at ₹162. Can I accumulate now or wait? What is the outlook?

Ashok Leyland (₹157): The trend is down since March.. However, the monthly chart paints a different picture. The 21-Month Moving Average (MMA) has been giving very good support since 2022. The recent bounce is also happening from this 21-MMA. That leaves the bias positive and keeps the chance high for the stock to breach ₹173, a key resistance. Such a break can trigger a fresh rally to ₹270 in a year or two. You can accumulate on dips at ₹149. Keep the stop-loss at ₹128. Move the stop-loss higher to ₹163 as soon as the stock goes up to ₹180. Revise the stop-loss higher to ₹195 and ₹220 when the price touches ₹215 and ₹245 respectively. Exit the stock at ₹260.

Can I buy Persistent Systems now? Buy investment time frame will be three to four years?

Persistent Systems (₹4,728): The short-term picture is weak. The stock has been struggling to rise past ₹5,600. That keeps it vulnerable fall to ₹4,200-₹4,000, a crucial support zone. Failure to bounce back from this support zone will increase the danger of the price tumbling towards ₹3,500. A strong bounce either from ₹4,000 itself or from ₹3,500 will have the potential to target ₹6,500 on the upside. Considering your investment time frame, you can buy stock in three tranches at ₹4,230, ₹4,110 and ₹3,760. Keep the stop-loss at ₹3,120. Move the stop-loss up to ₹4,640 when the price goes up to ₹5,120. Revise the stop-loss higher to ₹5,380, ₹5850 and ₹6,120 when the price touches ₹5,750, ₹6,050 and ₹6,230 respectively. Exit the stock at ₹6,380.

Jupiter Life Line Hospitals (₹1,336): The trend is down since March last year. This fall is happening inside a bear channel. Within that the stock is now moving up from the lower end of this channel. Resistance is in the ₹1,430-₹1,450 region which can be tested in the short term. A downward reversal from this resistance zone will keep the bear channel intact. That in turn can drag the share price down to ₹1,200-₹1,000 in the coming months. A strong break above ₹1,450 is needed to mark the end of the downtrend. Only then the sentiment can turn positive, and the share price can rise to ₹1,800-₹1,900. It is better to stay out of this stock for now. You can consider entering this stock only if it breaks above ₹1,450 from here.

I am having Inox Wind shares. My purchase price is ₹129. Can I accumulate now and hold it for one year?

Inox Wind (₹90): The long-term trend is down. There are no signs of a bullish reversal yet. Strong resistances are at ₹95 and ₹110. As long as the stock stays below ₹110, there is a danger of seeing a fall to ₹63 in the coming months. In a worst-case scenario, the downside can remain open to see ₹43 as well. A strong break above ₹110 is needed to get a breather. That can trigger a relief rally to ₹140. Ideally the stock has to rise past ₹150 to indicate that the downtrend has ended. Only then the upside will open up for a fresh rally to ₹200 and higher. But that looks unlikely at the moment. Exit the stock and accept the loss.

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