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.

Jain Irrigation Systems stock details

Source: Capitaline Database, EWAL Research

SHORT TERM PERSPECTIVE

Company

Recommendation SL Target Price Horizon
JISLJALEQS Buy Rs 91 Rs 105/110

1-2 Weeks

(CMP – Rs 96)

Jain Irrigation Systems outlook

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

Elite Wealth Advisors Limited does/does not do business with companies covered in its research reports. Investors should be aware that the Elite Wealth Advisors Limited may/may not have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as read more


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