Buy JP Associates below Rs 64-63: Bhamre

Buy Jaiprakash Associates below Rs 64-63, says Siddharth Bhamre of Angel Broking.

Bhamre told CNBC-TV18, "We did recommend to buy Jaiprakash Associates around Rs 60-62 which is a good support level and this stock has too much of short positions and the nature of short positions are also quite huge. So I would suggest that no fresh shorting should be recommended, if you are an intraday trader or probably a day or two day trader and if you are happy with Rs 1-2 rupee move then short."
He further added, "If you are a positional trader then any levels below Rs 64-63 is a good buying opportunity in JP Associates. We are expecting a bounce back to Rs 74 so we are again buyers in this stock on dips."