Technical Analyst, Rajat K Bose is of the view that one can buy Jaiprakash Hydro-Power on dips. It has resistance around Rs 100-105, he added.
Bose told CNBC-TV18, "JP Hydro looks quite bullish. If it were to cross Rs 100-105 resistance area then probably the earlier high, that was early January 2008, would be scaled up. The formation is that of a rounding bottom, it is a saucer formation, pretty regular one at that. It suggests that position is getting built into this counter and over the medium-term that high around Rs 140 might well be scaled up by JP Hydro. So at dips I would suggest buying into this stock."
Disclaimer: It is safe to assume that analyst and his clients may have an investment interest in the stocks/sectors discussed.
