JP Associates can head to Rs 85: IIFL

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JP Associates can head to Rs 85: IIFL

Jaiprakash Associates can head to Rs 85 in short term, says Amit Harchekar of IIFL.

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Excerpts from Midcap Radar on CNBC-TV18 Watch the full show » ALSO READ See previous views by Amit Harchekar See what other Experts & Brokerages are saying about Jaiprakash Asso See messages about Jaiprakash Asso

Jaiprakash Associates can head to Rs 85 in short term, says Amit Harchekar of IIFL.

Harchekar told CNBC-TV18, " Hindalco is facing multiple resistances close to Rs 145-150 zone. I don't expect metals stocks to outperform in the coming days. In fact if there is correction in Hindalco close to Rs 135 and Tata Steel close to Rs 420 it becomes a good level to look into the stock. I have upside target close to 10% once we see a correction like a 3-4% from here."

He further added, "As far as JP Associate is concerned, the momentum is still strong in most real estate and infrastructure stock. JP is suggesting strength even at around Rs 70 levels and I believe the stock could be heading towards Rs 85 in the short term."