Jitendra Panda, Future Capital is of the view that one can buy JP Associates, ACC, Ultratech on decline.
Panda told CNBC-TV18, “JP Associates today has added more than 15 lakh open interest and at this juncture still showing long positions. But we have seen earlier also JP Associates is a very high beta stock the way it moves up or it cracks down on a slight correction on the broader market. So they are high risk stocks. ACC and Ultratech have been showing ups and downs, but then the kind of interest which has developed; it is more of trading positions now getting into there. So we will have to watch the market and develop expertise. At every correction I would although recommend to buy, because we are seeing on the ground level the fundamentals - cement prices are not seeing any correction, but there is slightly slowly upmove and the cartel is getting stronger. So we believe the demand is there. So every dip I would like to buy and exit also, because we can get another opportunity to get in. So that is more or less strategy followed by the traders there in this sector.”
Disclosure: My clients may have positions in the above mentioned stock.
Disclosure: My clients may have positions in the above mentioned stock.
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