Exit JSPL at around Rs 190: Kunal Saraogi

Kunal Saraogi, CEO at Equityrush told CNBC-TV18, "Jindal Steel & Power (JSPL) charts even at this point in time look particularly bad. The structure is bad, the stock has broken through very critical levels and even if you see a bit of a recovery based purely on technical rebound, the stock could get to Rs 190 but there is very stiff selling pressure at those levels. So my advice would be that first thing you should do is to put a stoploss at Rs 150. In case the stock sinks below that there is absolutely no case for staying on with it.”

“If you get a rebound to Rs 190 that is a place where you will have to exit out of JSPL and move on to something better,” he added.