JP Associates has target of Rs 83-84: Harchekar

Jaiprakash Associates has target of Rs 83-84, says Amit Harchekar, Sr Technical Analyst -CMT, IIFL India Private.

Harchekar told CNBC-TV18, "Jaiprakash Associates is looking good on charts. The stock has formed a sort of a pineal formation. I believe the near-term target for JP Associates could be between Rs 83-84 so that is where we can expect this stock to move and from there we can expect sort of a profit booking."
He further added, "If you are expecting a big up move IRB Infrastructure looks good at these levels. The stock has been consolidating about the breakout point of Rs 165 for almost last two weeks and I believe there is a good upside potential of 15-20% from the current level. So if I want to pick a stock for a delivery perspective for one month, IRB would be my choice." Disclosure: We may have recommended these stocks to our clients but no personal holdings.