Sell Jain Irrigation Systems, target Rs 88: Dr CK Narayan

Dr CK Narayan of Chart Advise has Sell call on Jain Irrigation Systems Ltd. with a target price of Rs 88.0. The current market price of Jain Irrigation Systems Ltd. is 92.6. Dr CK Narayan recommended to keep stop loss at Rs 96.0. Jain Irrigation is under some bit of pressure after having moved up pretty aggressively and profit taking is clearly to the fore. Any intraday rally, suddenly there has been a sharp drop in the last few minutes so prices have dropped from somewhere around Rs 93.50 levels or Rs 93-93.5 levels to around 91.5 So any pullback to about 93 can be used to short this for a target of about Rs 88