Buy Jai Corp, target Rs 146: Rajesh Bhosale

Rajesh Bhosale of Angel Broking has a buy call on Jai Corp with a target price of Rs 146.

The current market price of Jai Corp is Rs 126.45.

Time period given by the analyst is two weeks when Jai Corp price can reach the defined target.


Rajesh Bhosale recommended keeping a stop loss at Rs 118.

"After vacillating in a broad range of Rs 90 to Rs 120 for the last five months; the stock prices have finally broken above the higher range of consolidation confirming a ‘Rectangular Channel’ bullish breakout. Moreover, on the weekly chart, we are witnessing a trend line breakout formed by joining two major tops. The above said breakouts are supported with rising volumes and strong bullish candle. Looking at the multiple pattern breakouts we sense a strong upside in the near term," said Bhosale.

Jai Corp Ltd., incorporated in the year 1985, is a Small Cap company (having a market cap of Rs 2271.66 Crore) operating in Iron and Steel sector.