DERIVATIVE PICK

JP ASSOCIATES (CASH – Rs.87.55) : The stock has made a smart rebound and we expect the small upmove to get converted into a bigger upmove. Buying is advised above Rs.88.50 for a target of Rs.91.25 and Rs.94. Higher target of Rs.96-98 is also possible. A slightly loose stop loss of Rs.83.75 should be kept. Since it is a positional trade, the time frame would be around 10-12 trading sessions.