Hold Jaiprakash Associates: PINC Research
Existing investors can hold Jaiprakash Associates on to their positions and new investors can mull over buying this stock at current levels.
March 23, 2011 / 16:08 IST
Existing investors can hold Jaiprakash Associates on to their positions and new investors can mull over buying this stock at current levels.
Price Breakout post Consolidation: This stock has witnessed a consolidation phase over the last few weeks.The price movement in the last few days suggests of a breakout from this consolidation phase indicating higher prices in the coming days. Positive Divergence in Momentum Indicator: The medium/long term momentum (MACD) indicator has moved up in the last three months and has made a higher bottom. Price wise though, this sector has made an equal bottom in the same time period. This indicates a positive divergence. Such a divergence normally occurs before a sustainable rally and thus it could lead to a trend reversal for the medium term. Technical Commentary/ Observation: The price breakout from the consolidation along with the strength in momentum indicators augurs well for this stock from a medium term perspective. Existing investors can hold on to their positions and new investors can mull over buying this stock at current levels.Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management.Moneycontrol.com advises users to check with certified experts before taking any investment decisions.To read the full report click on the attachment 
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