JP Associates between Rs 160-170: E Mathew

Technical Analyst, E Mathew is of the view that one can exit JP Associates between Rs 160-170.

E Mathew told CNBC-TV18, "Chartically, JP Associates is not inspiring as much confidence possibly, say as DCB chart but nevertheless, if we have a pullback rally and this rally is able to sustain above 4050-4100 and go to about 4300 then certainly JP Associates would also participate. But I guess the target that you would look for would be a more humble target, something like around Rs 160 to Rs 170. In fact, I would advocate possibly at those levels if one is a trader, one could come out the JP Associates position."

Disclosure: It is safe to assume that analyst hold positions and have interest in the stocks and sectors discussed.