1. DIYTechnicalAnalysis is a private community of traders and investors interested in building wealth from Indian equity market. You can become a member with a one time registration fee of ₹199. Click here to become a member

Jain Irrigation

Discussion in 'Technical Analysis' started by masihpatel, Mar 31, 2014.

  1. masihpatel

    masihpatel Active Member

    Joined:
    Jun 2, 2012
    Messages:
    325
    Likes Received:
    49
    Is it a buy@CMP for the target of 74 with SL of 60? Please share your views.
     

    Attached Files:

    masihpatel, Mar 31, 2014
    Share #1
  2. srspriya06

    srspriya06 Active Member

    Joined:
    Dec 13, 2012
    Messages:
    243
    Likes Received:
    47
    Perfect "w" has been formed. Already a breakout @ 62. Now another breakout from resistance of 65. Today it closes above 65. So yes its a buy. But the stoploss is 58 and target could be 71 because at this level there is a resistance. If it breaks this level then it can move to 74.
     
    srspriya06, Mar 31, 2014
    Share #2
  3. masihpatel

    masihpatel Active Member

    Joined:
    Jun 2, 2012
    Messages:
    325
    Likes Received:
    49
    Thanks priya.
     
    masihpatel, Apr 1, 2014
    Share #3
  4. shabbir

    shabbir Administrator Staff Member

    Joined:
    Apr 30, 2012
    Messages:
    6,703
    Likes Received:
    1,940
    Spot on.
     
    shabbir, Apr 1, 2014
    Share #4
  5. srspriya06

    srspriya06 Active Member

    Joined:
    Dec 13, 2012
    Messages:
    243
    Likes Received:
    47

    Its my pleasure Masih.
     
    srspriya06, Apr 1, 2014
    Share #5
  6. srspriya06

    srspriya06 Active Member

    Joined:
    Dec 13, 2012
    Messages:
    243
    Likes Received:
    47
    Thank You shabbir.
     
    srspriya06, Apr 1, 2014
    Share #6
  7. shabbir

    shabbir Administrator Staff Member

    Joined:
    Apr 30, 2012
    Messages:
    6,703
    Likes Received:
    1,940
    My Pleasure.
     
    shabbir, Apr 1, 2014
    Share #7
  8. sanjay_sansanwal

    sanjay_sansanwal Contributor

    Joined:
    Jun 17, 2012
    Messages:
    1,282
    Likes Received:
    140
    Occupation:
    Not Important

    Levels are correct but I am uncomfortable as risk-reward not favorable, plus seems to me that pullback may happen any time and to avoid that it should not breach 64 @ down side and on upside it should break 67.50.
     
    sanjay_sansanwal, Apr 1, 2014
    Share #8