Tuesday 7 October 2008

Exit Jaiprakash Associates on rallies: Gujral

Technical Analyst, Ashwani Gujral is of the view that one should exit Jaiprakash Associates on rallies.

Gujral told CNBC-TV18, "Punj Lloyd seems to be strongest because it’s held out in this decline. If you can get it around Rs 190-195 you could easily ride it back up to Rs 300 if the market comes back."

He further added, "JP Associates is probably a dead stock for a bit. It needs to make a basing formation probably around Rs 90 to Rs 100 levels before it can move up. So any sort of rally around Rs 120-125 is probably an exit."

Disclosure: It is safe to assume that analyst and his clients may have an investment interest in the above stock/sector.

Source: MoneyControl

Posted by Harsh at 00:22

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