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Jain Irrigation Systems


Buy @ CMP 65, Target 100- 130, Stop Loss 57.

Analysis: Jain Irrigation has given a volume breakout from 60 levels. Prices are rallying above 50 & 200 days moving average after the volume breakout. On weekly basis we see prices are making rounding bottoms formations. Currently it has given a weekly reversal and moving ahead. 

As per the Elliott wave prices has completed the 1st wave, 2nd wave from down side 47.95 to upside 72.40 also got completed at 61.8% retracement at 57, currently  we are in process of 3rd wave formation. We see target of 75 (previous intermediate top) for upside target of then 100% retracement level target of 85 levels and after cross of 85 levels we can see very positive rally. 3rd wave rally target is 100 levels & next target is 130 levels. 

We advice to accumulate Jain Irrigation Systems at current market price 65 with target of 100-130 and 57 will be stop for this trade.


Jain Irrigation Systems

Disclaimer:All information given here is largely based on technical analysis which is highly dynamic in nature and relevant only at a particular point of time. Users are advised to pursue these recommendations only at their own risk and first consult their personal investment advisor when making investment decisions. We are not liable and we take no responsibility for any loss that you incure by trading/investing on our recommendations. these study are posted for educational purpose only.

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