Buy Jain Irrigation Systems: Salil Sharma

Salil Sharma, technical analyst at Kapur Sharma & Co told CNBC-TV18, "Jain Irrigation Systems has been consolidating at the current levels for quite sometime and now seems to have given a breakout at the current Rs 71.40-71.50 levels. I would suggest a buy in this counter with a stoploss of Rs 69 and the target of Rs 76 in the very short-term."

At 14:01 hrs Jain Irrigation Systems was quoting at Rs 71, up Rs 1.95, or 2.82 percent. It has touched an intraday high of Rs 71.90 and an intraday low of Rs 69.25. The share touched its 52-week high Rs 86.40 and 52-week low Rs 46.10 on 15 January, 2013 and 01 August, 2013, respectively. Currently, it is trading 17.82 percent below its 52-week high and 54.01 percent above its 52-week low. Market capitalisation stands at Rs 3,229.89 crore. Disclosure: He may have personal holdings as well as recommended the same to his clients.