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.
