Jain Irrigation - strong bullish recovery

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From crucial support level - 80, Regular uptrend noticed after declaration of good YoY Q4 results - 17 and quick monsoon announcement also supporting the trend
TP = Resistance 1, 116 and the scrip can break the crucial resistance level owing to strong fundamentals
Might notice consolidation for few days due to profit booking by short traders

Trade active
Trade active: As anticipated, consolidation can be seen although uptrend is still noticed
Comment: Green engulfing candlesticks portraying buyers have traded most of the game managing to push the price up..
Similar bullish uptrend if seen as earlier can push the scrip beyond resistance (c) level
Trade active
Trade closed manually: Either ways of candlestick formation after a clearer picture of whether to hold position or not after significant indecision amongst traders, Have decided to book profits for now.

Will be entering again, after the price levels goes beyond 113 aiming towards resistance (C) and beyond if major or continuous green candlestick engulfing is seen

Comment: Planning to enter again if the scrip forms morning star pattern and aim towards resistance level which had been support level prior
Will see on 14-Aug-2017 to see the outcome of Q1 YoY results if results are declared during trading hours otherwise, after independence day. Till then, there could be more clarity towards momentum

Resistance levels have been updated accordingly..

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