Exit Jaiprakash Associates, says Kunal Saraogi

Kunal Saraogi, CEO at Equityrush told CNBC-TV18, "It is a bad investment to hold on to Jaiprakash Associates given its trajectory, given the fact that it is underperforming and there are multitudes of fundamental factors for that. If you look at the chart structure, it has got a very dismal looking chart although it has pulled up very nicely in today’s trade, you should use whatever opportunity you get to try and exit out of this one."

"I don’t expect for the stock to get pass Rs 26.50-27 levels and if you see those levels, my advise would be to exit out of JP Associates and move on to something qualitatively better," he added.