Buy Jaiprakash Associates on dips, says Sukhani

Sudarshan Sukhani, s2analytics.com advice traders to buy Jaiprakash Associates on dips.

Sukhani told CNBC-TV18, “Jaiprakash Associates has been moving up inch by inch, it has fallen. It’s building a small base which could be part of a much larger base. Jaiprakash Associates is a buy on dips.”
He further added, “I don’t know whether you want to buy it after a 4% rally but tomorrow if we see follow through I think Jaiprakash Associates would be an excellent buy for the short term trader. There is one more, JP Power which is doing the same things as Jaiprakash Associates. So both of them are on the list of long trades that I would like to take.”
“Traders should focus only on the main index but L&T has been one of the good reasons why the Nifty has rallied and perhaps tomorrow if we see follow through, L&T and BHEL both will become buying opportunities. I don’t think we should go overboard today with a lot of positions carry around but long positions in the Nifty especially in options are justified.”