Jain irrigation chart shows a flag like consolidation above its 2 year highs. This consolidation has been going on since past 5 months and counting. Yesterday there was an announcement from the company related to debt resolution plan where the company has reached an agreement to restructure debt of nearly 3800 crores with the lenders. How this will impact the stock price needs to be seen. A breakout from the above mentioned flag would happen once stock price crosses 45-46 and consolidates or moves above that. Zones below which consolidation happened and ultimately were overcome were 34 and 37 and are marked by dotted horizontal lines on the chart. Please find attached document with details of debt resolution plan. disc: small starter position. plan to add more on successful breakout
jain irrigation debt resolution march 22.pdf (2.8 MB)
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