Sell Jaiprakash Associates, says Sahil Kapoor

Sahil Kapoor of Edelweiss told CNBC-TV18, "In Jaiprakash Associates what we are seeing is a very strong upmove, from Rs 38 it has moved directly to about Rs 45. I don't think that it will be able to clear the hurdle of Rs 47-50. It had a very big breakdown from that level so possibly we can expect another 6-7 percent rise from the current level as well. However I don't think the risk reward favors longs for Jaiprakash Associates at current levels."

"If it holds Rs 39-40 levels on the correction then possibly one could look to buy Jaiprakash Associates but till that time I think it is better to let the stock reach Rs 47-48 and possibly look to sell that with a short-term perspective of seeing Rs 39-40 levels," he said.