JISLJALEQS (Jain Irrigation Systems Limited) #BUY ABOVE 69.8
Rising on low volume and falling on high likely to face resistance at trendline
JAIN Irrigation has been in a down trend all 2018. Made an inverse head and shoulders pattern, if you will. Currently testing the neckline again, awaiting a breakout/Reevrsal
With volume pickup at support of 75 and fresh bullish pattern, stock may soon give target of 84
Hi Guys, There is an opportunity of swing trade in Jain Irrigation. Buy: 85.8 Target: 99.8 Stoploss: below 79.8. Reward/Risk Ratio : 14/6 = 2.33. According to the Fibonacci extension, the 3rd wave should be around 1.5-1.6 times bigger than the 1st wave, which leads us to around 99-101 levels.
JAIN IRRIGATION has been testing the neckline for a couple of months now. Currently on the neck, awaiting a breakout/reversal.
GIVING A INTERNAL BREAKOUT AFTER A LONG TIME MUST BUY FOR A WEEK MENTIONED TGT AND SL OVER THE CHART .
Jain Irrigation is now looking for a breakout from 3 & half year long triangle pattern with solid volumes, if sustain then can see 15-20% in next 2-3 months and 50-70% up move from current level in next 1 year, Look for a long trade here with sl as per support line.
Following the trend. Forming a shooting star
Buy above 103-104 for given targets in short term. Indicators look strong, price has moved above 200 DEMA. For long term setup, check my other chart (double bottom setup).
Head and Shoulder setup on Jain Irrigation with the support of MACD as well as RSI indicators indicating downward trend.
Go long if the setup forms successfully. Great targets and Risk/Reward. Plus, fundamentally strong company, aggressive expansion, good monsoon forecast will also benefit leading to the formation this setup. Good Volumes.
If the breakout from multi year Monthly chart, blind buy for long term considering that infrastructure push and an above average monsoon is confirmed
It has been observed in JISLJALEQS chart that shot term break out near 98.6. At the time of retracement it is formed bull reversal candle in an up tread, can watch near Current market price for short term target at 108. stop loss below 96.
Post bottom reversal, the stock has been trading in the Symmetric Triangle in intermediate trend running across weeks. The Triangle was breached with Bullish expectation, and the stock is righ now in tilted rectangle - almost like a flag consolidation amidst a rally. Would be expected to break out and rise with gap.