Chennai Petroleum Corporation looks attractive: Jai Bala

Jai Bala, Head-Technical & Cross Asset Strategy of 1857 Advisors told CNBC-TV18, "On the midcap space, you have got to be very careful. We had mentioned about Chennai Petroleum Corporation last time, which is looking quite positive. You can place a stoploss below Rs 170. The stock is looking quite attractive for the medium-term and not for the short-term.""It is going to take about 6-8 weeks or slightly beyond that for the stock to achieve a price objective of about Rs 280 plus. But, it has put in a short to medium-term bottom and the price action so far is looking quite positive," he added.