Monday, June 23, 2014

Jain Irrigation: Ready for the Run?

Jain Irrigation exists in a sector that has great future prospects, the sector of micro irrigation & sprinkler irrigation systems along with its ancillaries. From its price of over 250 in 2010, it hit its bottom of around 50 in Aug'13, the same support it respected in Jan'09. From there, it has been trying to recover and right now it standing at its resistance of 125-128, as can be seen here:

image

Broadly, markets are in a bull market right now. In such a scenario, stocks such as Jain Irrigation may be kept in sight well before they start their independent bull run, which may be with a speed more than the broader markets. Breaking out of this resistance would mean something similar to breaking out of its rounding bottom, which may mean reversal of its trend! I guess then we can be optimistic, even as a conservative trader!

Do not mistake this as our attempt to predict the tomorrow. Can we? Should we? The concluding statement answers these questions, and i love it:

“Those who have knowledge don't predict. Those who predict don't have knowledge"
-Lao Tzu. Sixth century BC.



1 comment:

kirankumar ullagaddimath said...

very useful sir, this insights empower to invest confidently