See target of Rs 372-375 on JSPL: Thukral

Hemant Thukral, national head-derivative desk of Aditya Birla Money sees a target of Rs 372-375 on JSPL due to a major pull back in next three sessions.

Thukral told CNBC-TV18, “A lot of short positions are open for metals. On Friday, the way the rollover cost moved up, that means the premium of the current month in comparison to the next month indicating that short covering has picked up already and now the momentum is towards the pull back side.”
“Technically also, Jindal Steel & Power (JSPL) has managed to take support at around Rs 342-345. In immediate short term, I see a target of Rs 372-375 just due to a major pull back in next three sessions. Traders have to keep a stop loss at around Rs 342-345,” he added.