Pritesh Mehta, Technical Analyst at IIFL told CNBC-TV18, "Jaiprakash Associates has been an outperformer, it is an excellent chart. It depreciated from Rs 80 levels and then built a strong base before breaking out of inverted head and shoulder pattern this week."
He further added, "I believe there is more in this counter. It is already trading around its 200 day moving average. If it manages to close above it we can sell it around Rs 52-53, so I would go and buy this counter." At 13:55 hrs Jaiprakash Associates was quoting at Rs 46.05, up Rs 1.35, or 3.02 percent. It has touched an intraday high of Rs 46.70 and an intraday low of Rs 45. The share touched its 52-week high Rs 106.75 and 52-week low Rs 28.40 on 12 December, 2012 and 19 August, 2013, respectively. Currently, it is trading 56.86 percent below its 52-week high and 62.15 percent above its 52-week low. Market capitalisation stands at Rs 10,218.88 crore. Disclosure: We may have recommended the stock to our clients but no personal holdings.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!
