More downside seen in Jain Irrigation: Sukhani

Sudarshan Sukhani of s2analytics.com sees more downside in Jain Irrigation. Meanwhile, he advised buying Jaiprakash Power.

Sukhani told CNBC-TV18, “Markets are now choppy. After many days we have a recommendation to go short in Jain Irrigation. The downtrend in Jain Irrigation may not be over. There was a rally, but that rally has now taken the shape of a bear flag and it is falling down from that flag, which indicates that more downside is coming.”
He further added, “There is a weakness there and that could continue. The second stock is Jaiprakash Power. It has done well. It is coming out of a bear market of its own. It has made a bullish head and shoulder pattern. A bullish head and shoulder pattern tells us that significant momentum is now emerging on the upside. Buy JP Power."