JISLDVREQS trade ideas
Jain Irrigation - strong bullish recoveryFrom 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
Jain Irrigation- Misting Effect-Trapped in 118-122 ZoneMisting 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
Jain Irrigation- Symmetrical Triangle Breakout- Buy SetupAs seen Jain Irrigation has broken out of symmetrical triangle with volumes on the daily chart a few days back. The stock has the potential to move higher and test its intermediate highs.
Conservative traders can wait for a pullback to enter, in order to have a better risk reward.
Target: 107, 120
Exit Levels: 91.90
CMP: 101.50
Jain Irrigation BuyPost 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.