Buying opportunity seen in JP Power: SP Tulsian

Buying opportunity is seen in JP Power, says SP Tulsian of sptulsian.com.

Tulsian told CNBC-TV18, “Jaiprakash Power, I don’t think that much downside is likely to come beyond this, maybe Rs 30 looks a good support and if you see the trading pattern of this stock – you can call it as a high-beta stock and swiftly it moves to the level of Rs 35-36 also.”
He further added, “Once we see this Qualified Institutional Placement (QIP) happening, which I am confident of that it will sail through at the rate of about Rs 32 or so then again we will be seeing the positive momentum coming in. I will be using this weakness as a buying opportunity, as positional trader or maybe as a short-term investor.”