Sunday, April 19, 2009

TA - JP Associates

Jaiprakash Associates (Rs 111.6): In our review of this stock in September 2008, we had indicated that the long-term outlook for Jaiprakash Associates had turned negative and that it could decline to Rs 93 or Rs 56.

The stock bottomed at Rs 47 on October 27, 2008 and had been moving sideways with a positive bias since then. Immediate resistances for the stock are at Rs 128 and Rs 146. Failure to move above these levels will result in a sideways move between Rs 60 and Rs 170 for a few more months.

Rally above Rs 170 will pave the way for a move to Rs 220. We do not envisage a move above Rs 220 this calendar year. If the stock manages to do so, next long-term target is Rs 320.

Source : businessline 19-04-09

Our Recommendation :
Our Research Team Views :

Day High Low Rs.122-107
Monthly High Low Rs.80-128
6M H/L Rs. 215-70

This share has risen sharply more than 90% in the last 2 months. The following  are the ideal ranges for buying and selling :

Buying Range : Rs.85-90
Selling Range : Rs. 115-125

Wait for the price to the buying range on correction in the stock markets.

Holding period : 6  months
Returns expected : 75% plus

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Quarter, 6 M / 12 M picks

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Equity Research Team

Intelligent Investor -
Invest Advisory Arm of

Ravina Consulting
Bangalore India

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