Kunal Bothra, Head of Advisory at LKP suggests holding Jaypee Infratech.
Kunal Bothra, Head of Advisory at LKP told CNBC-TV18, " Jaypee Infratech after trading from Rs 18 odd to Rs 40 odd levels in the last four five months it is cooling off, it is a process of retracement which the stocks go through or consolidation if you are looking at the larger uptrend. It is a similar phase which is happening for Jaypee Infratech and I believe the fact that it is taking a bounce from its 20 day moving average, in fact a couple of weeks back it took a bounce from the 30 odd levels which is a 20 day moving average."
"It is a good sign building up for Jaypee Infratech. If the investor can hold for the next three to six months then a breakout of Rs 40 could trigger a very strong uptrend where it continued from Rs 18 to Rs 35-36 levels in the last four five months. So if the investor can hold on and the stock breaks out of Rs 40 you could potentially look at even Rs 60-65 as a target on Jaypee Infratech," he added.
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