Go short for a target of 90 with SL at 96.
Jain Irrigation heading towards 99 as per charts...its already started upward move
jain irtrigations looking good for long with followed charts
Jain irrigation breaking out from a triangle pattern, may see 20% up side in next 30-40 days.
A probability of 3X returns in 18 months 1. Lot's of technical pointers of growth 2. Fundamental are improving
Jain Irrigation has formed a Flag Pattern. It has given a breakout on weekly chart with volumes, indicating a continuation of the upward trend. Aggressive traders can enter by end of the day if the breakout sustains. Whereas , more conservative traders can wait for a small pullback and enter during the next week to manage their risk and get a even better risk reward.
The stock has been consolidating for a while. A move past 102 would be a big sign of strength and the stock could then rally to 122-125 range. Watch this one.
As per the price action, it seems like 5 impulse waves are completed within the up-trend channel and now it will move further in corrective phase where 3 waves will continue rallying downward against the trend. The three corrective waves would name A B C. I have marked only Wave A in the above chart.