Here’s a new Momentum stock to follow in 2018:
Jain Irrigation
Source: Chartalert.com
Jain Irrigation stock has struggled a lot in last few years and finally, it managed to break out above 120 with a large candle. The stock has managed to make a good move post the breakout.
How to Play?
There are two ways:
1. Buy Now with stop loss below 115. Can you have that wide stop loss?
2. Wait for any panic situation and add stock around 125-130 with stop loss below 115.
I will prefer the second option even if it means losing the trade in case of runaway situation. Patience is always rewarding when it comes to stock market
Disclaimer – The state of the market notes is Deepak’s perspective on the market. The column is purely for educational purpose. Nothing contained herein is a solicitation to trade or a recommendation of a specific trade. By reading this publication you agree to make no trade relying in whole or in part on the comments of the writers