AbhishekHSinghCMT

Jain Irrigation- Misting Effect-Trapped in 118-122 Zone

NSE:JISLJALEQS   JAIN IRRIGATION
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Misting Effect
Misting is a result of high pressure and as much as 50% of your water starts evaporating into the atmosphere before it can get to your landscape resulting into wasting lot of water- Save Water- Safe Earth.
Next time, your service provider offers a wet check -you should be careful of high pressure limit because if exceeds then misting can take place.

Technical Analysis
Efforts are wasting since 2008 - resulting into no gain & why prospective bulls should really take interest in the stock above 118-122 zone which is strong rejection zone since 9 years.

Short Term Trading Strategy
Bounce can be seen above 105 to 108-110 zone, which likely one should book holding 98 levels on the downside or strict stops to be maintained for long trades.

Long Term Trading Strategy
Going below 98 -it will continue down for 88-90 zone & later if moves below 88 then look for 78-80 zone, where support can be seen next or want to buy, then think of doing so above 118-122 zone if sustained else your efforts will be wasted again- resulting into misting effect
May 11
Trade active: 10:35 Hrs 11th May2017

Last Price@105

Short Term Target Achieved at 109 between 108-110 -- going above 105 as mentioned in the main update above.

May 14
Trade active: 10:11 Hrs 15th May2017

Last Price@99.90

Day Low@98.80

Below 98 -More Weakness

May 21
Trade active: 19:13 Hrs 21st May2017

Last Price@92.90

Close to initial target zone of 88-90 -if holds we book & exit else next set of selling starts only below 88 on a sustained basis.

May 22
Trade closed: target reached: 10:52 Hrs 22nd May2017

Last Price@93.70

Partial Target reached at 92 - Closing the post.
Best Regards,
Abhishek H. Singh, CMT
​Growth Director - India
http://in.tradingview.com
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India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ

Comments

Again moving up, what's your take on the stock. This time may head to test 118-122?
Reply
@ManishD, It was a sharp bounce expected from 78-82 zone as no one was interested at that moment else I would have updated for a call to 104 back from 82 levels.
Reply
Your analysis here are more than appreciated :)

I did newbie mistake of buying specific stock at bearish flow, seeing the macro-factors that it will take bullish trend but had to finally sell at SL-93 to avoid further losses.

Waiting for the stock to settle down and retrace from support level. Also, Waiting for Q4Fy17 result now..
Reply
@amankavi, When are the results for JI?
Reply
amankavi AbhishekHSinghCMT
@AbhishekHSinghCMT, I think it should be 24th May

"Notice of meeting of Board of Directors to be held on 24th May, 2017 to consider Consolidated Audited Financial Results for FY 2016-17 pursuant to Regulation 33 of SEBI (LODR), Regulations, 2015."
Reply
@amankavi, Thanks.
Reply
amankavi AbhishekHSinghCMT
@AbhishekHSinghCMT, Feel we can aim again for bullish surge after confirmation if results are good YoY on 14th Aug :)

Reply
I have been reading your analysis and i must say that all of them are great. Really appreciate your efforts and skills.
Reply
@cajatinnagpal, Thanks & Welcome.
Reply
CMP Rs 93.5. If it is able to hold its resistance of 88-90, then will it be a good strategy to take long position at around 91-92 for short term target of 98-100?
Reply
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