Jain Irrigation

Jain Irrigation
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Highlights

Jain Irrigation, The Rs two paid up share of Jain Irrigation Systems\' daily chart shows a performance that nearly resembles that of GMR Infrastructure.

The Rs two paid up share of Jain Irrigation Systems' daily chart shows a performance that nearly resembles that of GMR Infrastructure. The share of Jain Irrigation Systems scaled to a high of Rs 133.45 on July 8, 2014, from where it turned bearish and gradually reached a low of Rs 63.40 on December 17, 2014. After having fallen to such a low, it recovered a little and then remained in a narrow range at levels slightly above the bottom price for quite some time.

The share remained in a narrow range and nearly directionless till Thursday of the last week but on Friday it moved up and above the narrow trading range and scaled to a high of Rs 70.80 before closing at Rs 69.75 that indicates that it has seemingly attracted attention of long-term investors. The upward break-out as indicated by Friday's modest jump in price coupled with increased trading volume indicates a possibility of a further rise in offing and therefore, it is suggested for buying for medium to long-term investing.

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