Amit Harchekar, IIFL is of the view that, one can buy Jaiprakash Associates on dips. The stock has a potential to test at Rs 82-81 zone and from there one can again expect an upmove towards Rs 95-96 zone.
Harchekar told CNBC-TV18, "Jaiprakash Associates (JP Associates) has been into a consolidation zone after we had seen a good upmove. It tested the levels of Rs 91 and thereafter we have seen a dip." He further added, "I believe steel stock has a potential to test at Rs 82-81 zone and from there we can again expect an upmove towards Rs 95-96 zone. So as of now it becomes a good buy on dips unless we have a breakdown below Rs 78 the outlook for JP Associates remains positive." "Hero MotoCorp again the stock is trading into a tight range unless we do not have a breakout above Rs 1855 we can expect the stock to trade with a negative bias. Once we have a move above Rs 1855 then one can expect a rally towards Rs 1950-1955 but as of now one should avoid. Take long positions only once we have a clear cut breakout."Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
