Sudarshan Sukhani, s2analytics.com advises traders to buy Jaiprakash Associates on correction.
Sukhani told CNBC-TV18, “Infra stocks are not buying opportunities but I would still be upbeat on them. The problem is that we are talking about these companies on a day when infrastructure is literally collapsing. That does not mean that these stock prices will go to zero. It means that this time there is a deep correction going on.”
He further added, “I would still be a buyer in JP Associates but that does not mean we buy it now. We have to be patient till this correction gets over. Any decline in Jaiprakash Associates is a correction, it is not a bear market. Lot of this will work out once the decline stops that could take a week, a day or a month.”