The two stocks are JP Associates and DLF. At a time, when Nifty is trading at life time high and about to touch 8000, here are two stocks which are going down with no support at work.
Here's JP Associates Daily Chart
I did cover JP Associates on August 18 when stock price was 55 in a post titled:"There is no Bull Market for this stock". Well, ten days later stock has lost another 20%. No support seems to be working for the stock.
The same is the case with DLF
DLF is back to levels from where it made some recovery attempts post elections. This also coincides with 200 dma. But nothing seems to be going right for the stock.
Trading Rule: Never catch a falling knife.
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