The stock is JP Associates.
At a time when market is making life time high, this high beta stock is unchanged for CY 2014. That's not all - stock has seen significant selling in last few months and has refused to participate in any rally.
Here's the Daily Chart
The stock is right now just above the support level of 52 but that does not count for much. What matters: stock is weak and can hold up in a strong market. The stock has no strength of its own and if market starts breaking down, this will be first one to crumble.
JP Associates is no more the fav stock of institutional investors and it looks like big investors are more inclined to sell the stock on any rally than buy. There is no bull market like feeling for this stock.
Disclaimer – The state of the market notes is Deepak’s perspective on the market. The column is purely for educational purpose. Nothing contained herein is a solicitation to trade or a recommendation of a specific trade. By reading this publication you agree to make no trade relying in whole or in part on the comments of the writers