Thursday, August 16, 2012

TA on Request: Jain Irrigation

Jain irrigation according to me doesn’t look profitable and lack with upside potential. When I look over technical it is not bad until and unless it is below 76, if Jain irrigation manage to come below 76 it is going to break the latest bullish trend.
Jain irrigation is having a support at around 74-75. If it fails to manage that support. It is going to follow the downtrend as shown.

Additional Information:
Jain Irrigations Ltd: JPMorgan has an underweight on Jain Irrigation and they have slashed the target to Rs 65 from Rs 105. The revenue flow from their micro irrigation business has started to shrink and the balance sheet matrix has not shown any improvement. As a result the debt on the books remains high.

Source: Economic Times