Sell Jaiprakash Associates: Shardul Kulkarni

Jul 01, 2013, 06.18 PM IST

Shardul Kulkarni of Angel Broking recommends to sell Jaiprakash Associates as it may retrace back to Rs 49-48 levels over the next eight to ten trading sessions.

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Shardul Kulkarni of Angel Broking recommends to sell Jaiprakash Associates as it may retrace back to Rs 49-48 levels over the next eight to ten trading sessions.

Like this story, share it with millions of investors on M3

Sell Jaiprakash Associates: Shardul Kulkarni

Shardul Kulkarni of Angel Broking recommends to sell Jaiprakash Associates as it may retrace back to Rs 49-48 levels over the next eight to ten trading sessions.

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Shardul Kulkarni of Angel Broking told CNBC-TV18, "The move which Jaiprakash Associates has given on the upside should be use to exit long positions if traders are caught. There is no base formation that has taken place in the stock."

"If the stock was to reverse and the trend has to change, first one needs to see a base formation and that base formation has not taken place in case of Jaiprakash Associates. It would be best to exit from the stock. I feel the stock may retrace back to its Rs 49-48 levels over the next 8 to 10 trading sessions."

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