Chart Update: Jayshree Tea

Jay Shree Tea Industries Ltd: CMP 114.

Tea and Plantation sector is hotting up and in all probabilities Tea & Plantation sector might move like how Sugar sector has moved or how the Paper sector rewarded its investors.

In such a scenario if we have a good breakout in a Tea stock it is going to interest us.

jaysreeteaJayshree Tea is having a breakout on the daily charts, the inverse head and shoulders pattern broke out yesterday on 23rd January 2017. And the breakout was aided by heavy volumes.

I guess Jaysree Tea becomes a hot short-term trade for everyone with a stop near 106. The target according to the pattern height would run to nearly 140+.

DISCLAIMER:  Registration status with SEBI: I am not registered with SEBI under the (Research Analyst) regulations 2014 and as per clarifications provided by SEBI: “Any person who makes recommendation or offers an opinion concerning securities or public offers only through public media is not required to obtain registration as research analyst under RA Regulations”

DISCLOSURE: It is safe to assume that i might have Jay Shree Tea Industries Ltd in my portfolio and hence my point of view can be biased. Readers should consult their financial advisory before any investments.

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