Friday, March 8, 2013

JP Associates

JP Associates

JP ASSOCIATES is one the high volatility stock which move with nifty most of the times. JP crashed almost 37% from its previous highs.Stock found support at higher levels of its previous low which shows that the stock is in longer term uptrend.

Short Term:

JP Associates gave a HnS break up and moved up today. Having cup depth of 8 points stock gave break out at 75 levels. Go long on the stock to see 83( if trend is strong 89) in shorter term with SL at 74.25

Long Term:

JP Associates made a new low which is high to previous low which confirmed that the stock is in uptrend. If the stock can hold the current support, then stock confirm its upward moment in the channel.Buy the stock with SL at 65 for a long term to see more higher levels of 110/140/163 in longer period.

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