IIFL is bullish on Jaiprakash Associates and has recommended buy rating on the stock with a target of Rs 102 in its November 29, 2012 research report.
“JP Associate after long consolidation has signaled breakout from flag pattern above Rs93.5. Such breakout was accompanied with good volumes and upside projection of pattern easily surpasses levels of Rs105. The daily RSI to have confirmed this up move with formation of higher high and has been sustaining above 55 levels quiet comfortably. (Duration 10 days),” says IIFL research report.
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