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Jaiprakash Asso has target of Rs 85: Thacker

This article was posted on Jan 31, 2009 and is filed under Stock Views

Technical Analyst, Mitesh Thacker is of the view that Jaiprakash Associates is looking technically strong and has target of Rs 85. ” We looked at the target of Rs 540 for a technical bounce back on United Spirits, the stock has done that and its slightly crossed and moved up to Rs 575-580 and not much accumulation seen on the charts and it looks like a bounce back of the selling which we saw in the stock so the good play was to play for a bounce back which is over and now we.. should let the stock settle down and make some patterns and give you signals on the chart for a further prediction on the direction side.”

He further added, “Jaiprakash Associates looks technically strong and its taken a short term uptrend on today’s move we are looking a target of around Rs 85 or slightly higher than those levels in short term.”

Source : MoneyControl

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