Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "Jaiprakash Associates is a short selling opportunity. The problem is that it can not be short sold just because we are talking about it. One has to identify trade location. These are stocks which one wants to sell on every rally. It is not easy to sell after big declines but intraday traders can still sell it."
"If the stock goes into a consolidation one can assume that it is probably going to go lower, go and short it," he added.
At 12:05 hrs Jaiprakash Associates was quoting at Rs 52.85, down Rs 4.80, or 8.33 percent. It has touched a 52-week low of Rs 51.65.
The share touched its 52-week high Rs 106.75 and 52-week low Rs 56.55 on 12 December, 2012 and 21 June, 2013, respectively. Currently, it is trading 50.49 percent below its 52-week high and 6.54 percent above its 52-week low. Market capitalisation stands at Rs 11,727.86 crore. Also Read: SC directs cement cos to deposit 10% of the penalty amount
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