4 August 2017


Hi Friends,

JP Associates had been in Long Term Down Trend ever since the Top of 2008. The stock has been trading in Downward Trend Channel since 2010. It tasted Rs. 5 in June 2016  and since then it's a Turn around story.

The Stock started forming Higher Top Higher Bottom formation. That is initial signal for Trend Reversal. The stock is trading above the Short term & Medium Term weekly EMAs giving more strength to Bulls.

The stock has broken above the Weekly Trend Channel Resistance near 21 and firmly trading above it. It is the strong signal of Long Term Trend Reversal. The stock has given over 400% Return since June 2016.

I recommended to Buy the stock near 8 in Nov 2016 in my Twitter & Whats app posts. As a discipline I booked Profits twice in the stock. I have booked more than 250% Return in stock. I believe it can be a multibagger idea. As long as it trades above Weekly Channel.

Currently stock has resistance near 30 and hence booking profits near 30 would be ideal strategy. The stock is currently trading in Overbought zone. Short term correction to 20 would be ideal price to re-enter in stock.

Conclusion: The stock can be a multibagger and provide 500 to 800% Return over next 5 to 7 years as long as it trades above the Weekly Channel Suppot.

Disclosure: Long in Family portfolio in the stock at an average price of 8.

Thanks & Regards,

Harsh Dixit.