Avoid buying JP Associates: Ashwani Gujral
"Clearly it is not a buy and on any rallies, you would either try to exit or probably keep away because this stock is not showing any strength and is making fresh lows all the time."
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| Ashwani Gujral, Chief Market Strategist, ashwanigujral.com in an interview with ET Now talks about JP Associates.
What does one do with JP Associates?
The problem is that infrastructure will also bear the brunt of rates, so now it is falling towards the lows of probably year 2009, which are levels of 60-65, so you can imagine what the market is discounting. Clearly it is not a buy and on any rallies, you would either try to exit or probably keep away because this stock is not showing any strength and is making fresh lows all the time.
The kind of stories that these infrastructure stocks are telling you is not the same that you hear around town about infrastructure, so you have to be cautious in these stocks that the bottom may be much further than people think.
What does one do with JP Associates?
The problem is that infrastructure will also bear the brunt of rates, so now it is falling towards the lows of probably year 2009, which are levels of 60-65, so you can imagine what the market is discounting. Clearly it is not a buy and on any rallies, you would either try to exit or probably keep away because this stock is not showing any strength and is making fresh lows all the time.
The kind of stories that these infrastructure stocks are telling you is not the same that you hear around town about infrastructure, so you have to be cautious in these stocks that the bottom may be much further than people think.
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