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Jain Irrigation Systems LimitedJain Irrigation Systems LimitedJain Irrigation Systems Limited

Jain Irrigation Systems Limited

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JISLDVREQS trade ideas

Ride the Trend with this Smallcap stockThe cup and handle breakout with a strong volume suggests the market players to go long for a return of 90% with the reward:risk ratio as 6:1. Reasons for getting into this stock: Agri-business company manufacturing micro irrigation systems, PVC pipes, Renewable energy solutions with 6 decades of expertise. Inflation in the food prices result in the increased earnings of farmers. Expected good monsoon as suggested by IMD. #TradeTheTrend#smallcapstock
NSE:JISLJALEQSLong
by skklnsk
5
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