JP Associates: Rising


JAIPRAKASH ASSOCIATES Weekly NSE Stock Chart Technical Analysis:

Jaiprakash Associates (previously JayPee Cements) rose this week after 2 months of falling.

Close & CMP: 105.85

(This is a weekly chart so each bar / candlestick denotes price movement of 1 week)

Sentiment: Bullish

Market Outlook:
  • The price seems headed upwards.
  • There is an opportunity to buy / go long with a target of 125, stop loss 96.50
  • But if NIFTY underperforms, liquidate around 117.
  • There is strong support between 97 and 101.

Technical Indicators:
  • The price fall slowed down as soon as it hit its support at 101, as visible from the small candlestick bodies.
  • The support at 101 seems strong and so the price has started moving up again.
  • There is a resistance line around 125, sell when the price reaches near this point.
  • The price is deeply undersold, which also indicates that the price is ready for upward movement.

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