Ashok Leyland

1) Head & shoulder on all time high
2) RSI oversold
3) CNX Auto at 52 wk low
4) Though volume no are good in CV side but price is not reflecting it --- are missing something? Are at peak of earning cycle or derating due to change in cost of capital
5) If crude goes upto 90-100/bbl and INR to 80 then only stock can be shorted
5) In my view stock likely to bounce back rather than falling INR 50 ie around 40% as per H&S theory