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Hold Jaiprakash Associates: Nooresh Merani

Nooresh Merani of Analyse India is of the view that one may hold Jaiprakash Associates.

October 13, 2015 / 15:50 IST
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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.

first published: Oct 13, 2015 03:46 pm

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