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Jainirrigation

FY21-22 Swing Trade Idea #199: Long on JISLJALEQSThis is a public swing trade idea (other private ideas accessible through website) and is only for Learning and observational purpose. Please understand your risk and take full responsibility of your actions. We would comment on any further updates on our entry, targets and stop-loss on this idea, so make sure to follow if you want to get further updates. Our objective to help anyone who wants to learn technical analysis using charts. You can post your queries in comment section here and we will try to answer asap.
NSE:JISLJALEQSLong
by onerighttrade
Jain Irraigation : Piercing Candlestick patternJain Irrigation is forming piercing candle pattern on daily chart. Any close above 22.70 would be positive as volume on reversal is day very high. Those who wants to trade only on candlestick pattern should put stop loss below 16. CCI is also showing positive divergence on daily chart. Strategy 1 : Buy if stock is trading above 23 during 3-3.25 p.m. stop loss 16 target open. Strategy 2 : Those who want more confirmation can wait for RSI to cross above 30 and CCI to cross above -100.
NSE:JISLJALEQSLong
by UnknownUnicorn4260559
Jain Irrigation : Drip- Drip- Droppp !!Jain Irrgation is trading in a descending parallel channel. You can see 3 support on channel from where it has earlier bounced. It has also formed head & shoulder on weekly chart. Percentage target of the pattern is 83% down from 46 level which comes at Rs 7. Lower support line of channel is also at Rs.7 If you go back to period of 2003-2006 then you will find that it had made swing top of Rs 25 which could as a support for short term. 21-25 could be the zone where short term panic could be formed for a minor bounce towards 34-45 level but that should be used to exit position. Counter is bullish only on close above 76 on weekly basis. Those who take risk must be ready to see more down side or keep SL below 18. We do not advise any buy as the fundamentals are all against the company and V shape recovery can be possible only when some PE enter into the company owing to its strong product line in drip and micro irrigation. Company is also engaged into processed food export. Let the market settle down or create a panic bottom which mean market opens lower, move down to make a panic low and then jump to close at the day high which must be near or above the close of previous day. Most important thing is that volume must be too high to indicate that retailers, HNIs have offloaded in panic and market movers have entered for mean reversion or value buy.
NSE:JISLJALEQS
by UnknownUnicorn4260559