Recommended Stock of the Week – Jain Irrigation Systems Ltd
Weekly Techno-funda Report – 04 Feb 2017
Jain Irrigation Systems Limited (JISL) is a leading agribusiness enterprise, it is the second largest micro irrigation Company globally, and is largest manufacturer of micro irrigation systems in India. It is also the largest manufacturer of Mango pulp, puree and concentrate in the world, and the third largest manufacturer of dehydrated onions. JISL is also India’s largest manufacturer of polyethylene pipes, leading PVC pipe manufacturer, and is also the world’s largest manufacturer of Tissue Culture banana plants in the world.
Source: Capitaline Database, EWAL Research
SHORT TERM PERSPECTIVE
|JISLJALEQS||Buy||Rs 91||Rs 105/110||
(CMP – Rs 96)
Intermediate trend is sideways in JISLJALEQS, from last couple of weeks stock is trading in a range of Rs 87-95. As of, it has given a triangle breakout on daily charts this seems a bullish pattern. Increasing in volume and indication by oscillator shows that stock can headed higher from current level. Hence, one can initiate a buy position at current level with a stop loss of 91 (closing basis) for the target price of Rs 105/110. Time frame should be 1-2 weeks.
Disclosure in pursuance of Section 19 of SEBI (RA) Regulation 2014
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