Resistance levels of 147-150 for JP Associates: Devang Visaria

ET Now spoke to Devang Visaria, Chief Strategist, devangvisaria.com on his views on the infrastructure stocks.


What are your views on the infra pack? The likes of JP Associates, which also becomes a cement stock, GMR Infra and Lanco have seen some bit of traction in the last couple of sessions. How do they look on the charts?

Devang Visaria: JP Associates in the immediate short term for the next couple of days is just hovering around the resistance of 147-150.

So if it manages to close above 150, then you should have Rs. 10-15 up move on that stocks. GMR looks very promising. It has just made a good bottom at around 50-55 range and now you are beginning to see good volumes.

Also if you note there is good open interest in the call options which is generally not the case with GMR Infra. So definitely there is something cooking up on GMR Infra and if it manages to breakout above 60 levels and sustain above that, you should have a Rs. 10-15 up move over the next couple of weeks or so.