JP Associates can test Rs 105: Gandhi

JP Associates can test Rs 105, says Rakesh Gandhi, Senior Tech Analyst, LKP.

Gandhi told CNBC-TV18, "Jaiprakash has moved above its resistance of Rs 93 and sustaining above that has a potential that stock can move further upto Rs 105 or so. So a trading opportunity can be taken at this point of time keeping your stoploss at Rs 87."
He further added, "I have not been tracking HUL since long because it was quite flat for last so many weeks or for so many months but now that we are seeing a momentum in this stock, closing above Rs 290 on a weekend that is maybe by Friday would give a strong momentum on the upside. Till then I think one should stay away because it has come many times to Rs 290 levels and the uptrend is fizzling out and it becomes once again flat. So a trading opportunity can be taken only if it closes above Rs 290 or Rs 292 levels." Disclosure: I am not holding any position in the stock but we are regularly recommending to LKP clients as and when it happens for a trading opportunity.