180 a good positional target for JP Associates: Devang Visaria

Devang Visaria, Chief Strategist, Devangvisaria.com talks to ET NOW about JP Associates.

The sake of acoustics may be a little louder on JP Associates but how is that one looking because that is clearly screaming on the charts. 161 on the back of that IPO must of course there are disclaimers about the group having interest out there but JP Associates. 161 - what would you do with this one?

JP Associates had a good move on Friday’s session and this one has come after a long round of consolidation. The stock should have gathered in our steam and you could possibly look for targets of closer to 170 in the short term followed by 180 which is 52-week high for the stock. So 180 should be a good positional target, three-week target for JP Associates. On the downside, 154-152 should be a good support for the stock. Possibly buy at these levels. If it comes back to those supports, buy again and look for Rs 20-25 upside on JP Associates.