JP Associates has target of Rs 50-55: Sukhani

Jaiprakash Associates has target of Rs 50-55, says Sudarshan Sukhani of s2analytics.com.

Sukhani told CNBC-TV18, "Jaiprakash Associates has a target of Rs 55 or even Rs 50. I was referring to some support levels in many of the midcap stocks earlier but some of them have already done that, they have already broken down and it looks like they are going to complete their pattern targets on bearish side, on the downside and JP Associates target is anything between Rs 50-55."

He further added, "Sintex Industries broke down at Rs 75 and gives a pattern target roughly between Rs 50-55. If Sintex were to come to this range of Rs 50-55 that would be very interesting because it would have completed its downside target and it may eventually become a buy. But at this point there is lot more downside at least 15-20% more."