JP Associates a good long term bet, says Kulkarni

Jaiprakash Associates is a good long term bet, says Shardul Kulkarni, Sr.Technical Analyst, Angel Broking.

Kulkarni told CNBC-TV18, "On a sector front, we would not be very bullish in pharmaceutical stocks but would be quite bullish in banking as well as infrastructure, may it be the largecaps or may it be the midcaps. If someone is looking at a trading strategy in case of the infrastructure space or the cement space then I think that JP Associates is a good bet on the long side. However, the stock is moving right now in a sideways zone." He further added, "Aggressive positions on the market should be taken on Monday but that traders can just take a small bet in today’s trading session. So probably one can buy call options or look at taking individual bets as per one’s risk appetite. But one should take a little bit of a position today and add on to that position on Monday." "JP Associates, ACC from the cement space and ICICI Bank wherein there is a possibility that today’s fall should be used to enter. In ICICI Bank keep a stop loss on the lower side at around Rs 805 on a closing basis."