Jaiprakash Associates looks attractive: Mohindar

Rahul Mohindar of Viratechindia is of the view that Jaiprakash Associates looks attractive from a point of view that we have achieved the downside targets and we have bounced up from those Rs 120 to Rs 135 of support belt.

Mohindar told CNBC-TV18, "Jaiprakash Associates looks attractive from a point of view that we have achieved the downside targets and we have bounced up from those Rs 120 to Rs 135 of support belt where we estimated some kind of a bottom potentially, so the very fact that we moved up from the support levels, we have done the downside that was really due on the stock."

He further added,  "There is definitely a potential but should I go out and invest into it is a question I would like to possibly answer after seeing some more volumes coming back, so that’s a missing ingredient and that’s exactly why I wouldn’t really call this immediately a medium term break out with definitely in a short term up move."