Jaiprakash Associates a best bet, says Panda

Jitendra Panda of Capital First Securities told CNBC-TV18, “If you see positions today with the way built up has happened is one on JP Associates.”

He further added, “Although the sector has been receiving lot of shorts but then today we see after good amount of long positions building up there. Around 14 lakh shares building up on a day like this when market is more range bound and a stock like JP Associates gives us confidence also that at Rs 65 it has taken supports historically many times. So with that stop loss Rs 69 could be the short-term target and if market moves up from this range 5950, this high beta stock JP Associates could be one of the best bets for a high risk trader to bet in and make the money.”