Exit Jaiprakash Associates: Shardul Kulkarni

Nov 18, 2013, 12.19 PM IST

Shardul Kulkarni of Angel Broking recommends exiting Jaiprakash Associates at around Rs 49.50-50 on the upside.

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Shardul Kulkarni of Angel Broking recommends exiting Jaiprakash Associates at around Rs 49.50-50 on the upside.

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Exit Jaiprakash Associates: Shardul Kulkarni

Shardul Kulkarni of Angel Broking recommends exiting Jaiprakash Associates at around Rs 49.50-50 on the upside.

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Shardul Kulkarni of Angel Broking told CNBC-TV18, "The lower side support level in Jaiprakash Associates is Rs 42.30. If the stock were to break Rs 42.30 then one would actually get a trend line breakdown. So look at it from a 15-20 days trading perspective."

He further added, "Below Rs 42 it is best to exit from the counter. On the upside if the stock moves towards Rs 49-49.50 then that is also a decent price to exit because the weekly chart is quite bad. We have seen a very strong lower top lower bottom cycle and the bounce has come from around Rs 30 odd to Rs 48-49. It has strong resistance at around Rs 50."

"I would either exit below Rs 42 or near Rs 50 from JP Associates," Kulkarni said.

Disclosure: It is possible that he has positions in the stock discussed and may have recommended them to his clients.

Rokok Kanker