Expect 20-30% bounce in Lanco Infratech: Ajay Srivastava

Ajay Srivastava, CEO - Dimensions Consulting Pvt Ltd is of the view that Lanco Infratech is a pure trading bet. It has come down quite substantially from Rs 15 odd to about Rs 10 odd, unless it breaks dramatically it should give a bounce of another 20-30 percent when the market turns around.

Srivastava told CNBC-TV18, "Jaiprakash Associates has corrected down to almost Rs 70, cracked to Rs 69, it has come back all the way from Rs 100. It is in a very nice trading range. It always gives you a good profit when you get in around this price. So JP Associates is one stock where we have been looking at and saying that it is a good trading range to get in and we were running long, we sold on the Budget day and I think it is time to look at getting long again for a short-term kick-off which should give away."
He further added, "The second one we looked at was the Lanco Infratech which has gone onto Rs 10-11. Nothing fundamental, I must clarify. It is a pure trading bet that it has come down quite substantially from Rs 15 odd, comes to about Rs 10 odd, unless it breaks dramatically it should give a bounce of another 20-30 percent when the market turns around. So these are the couple of ones we have identified that could give a good trading up more than fundamental up as you go along."