Hold IVRCL; if broke Rs 171, can touch Rs 182: Kunal Saraogi

In a chat with ET Now, Kunal Saraogi, technical analyst, www.equityrush.com, talks about the outlook of JM Financial, IVRCL Infra and Educomp.

Can investors ride the upside on JM Financial? Is the bounce back in IVRCL Infra and Educomp sustainable or would you sell into them?

JM Financial has had a very good breakout today. The level now on JM Financial is about Rs 39-40, that's where the current move should peter out. The stock continues to be in a downtrend. It's just a dead cat bounce and around Rs 40 it should look to exit out to JM Financial if you are holding stock.

IVRCL has broken out and is up quite a bit today. The level now on IVRCL is close to about Rs171. This stock holds more promise and if it breaks Rs 171, I wouldn't be surprised if the stock goes up to Rs 180-182. So, this stock definitely is a hold.

Educomp has seen a bit of a bounce but continues to be in a downtrend and every rally should be used to exit the counter. So, there is more downside on Educomp.