Nooresh Merani of Analyse India told CNBC-TV18, "If we look at the longer-term charts of Jaiprakash Associates, it has been in a downtrend but in the extreme short-term charts, we have seen a small breakout above Rs 12-12.50 levels, which gives us a target price of Rs 16-18 in the short-term. As well as the stock has moved today, what the investors or the traders can do is take a trailing stoploss closer to Rs 12.50 and ride on to the position with a target price of Rs 16-18 where one can book out of the position."The share touched its 52-week high Rs 35.10 and 52-week low Rs 7.95 on 19 November, 2014 and 25 August, 2015, respectively.
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!