Jain Irrigation can test Rs 110, says Sudarshan Sukhani, s2analytics.com.
Sukhani told CNBC-TV18, "Jain Irrigation had some troubled times but now sub-100; it seems to have stopped bleeding. It does appear that Jain Irrigation is building some kind of base. This base building exercises takes lot of time; we have seen this in Reliance Communications , I thought below Rs 100 it will stop but it went to Rs 65. So that could happen with Jain Irrigation also. But once we have a view that this is the bottom, let it take a few months and every time there is an opportunity we go and buy it, that's exactly what I am suggesting with Jain Irrigation now."
He further added, "It may take a lot of time bottoming but at every level where we feel this is a buying opportunity, a buy setup, go long, don't go short. So at this point we can cross Rs 100 again in Jain Irrigation, Rs 104-105-110, there is a long trade here but you have to get out because this choppy movement can continue."
