Below Rs 35, JP Associates may test Rs 27-28: Manas Jaiswal

Manas Jaiswal of manasjaiswal.com told CNBC-TV18, "Jaiprakash Associates has some support near to Rs 35 levels. If it breaks Rs 35 then it can go down to around Rs 28-27 levels. If you are a trader then keep a strict stoploss of Rs 35, otherwise if you are an investor then do not buy the stock at current levels, you should buy Jaiprakash Associates only if it breaks Rs 45 or higher levels."

At 14:49 hrs Jaiprakash Associates was quoting at Rs 37.30, down Rs 8.45, or 18.47 percent.

The share touched its 52-week high Rs 88.80 and 52-week low Rs 36.60 on 11 June, 2014 and 04 September, 2013, respectively.