JUBLFOOD - It looks like about to BO. Its travelling in a trend. Once can enter if BO happened on the upper side 593+ .
If BO happened on the up side then the target marked it will follow. It the BO happens on the Down side then it becomes invalid.
Disc- Only for learning purpose and not a trading recommendation
This stocks is fall from last 2 month and fall almost 18% but the strong support zone is 460 far 50 points from this level be caution in long side bcoze it looks weak on every rise I will short it
NSE:JUBLFOOD best level to take entry is 540 with stop loss of 530 only. My expected target will be 555 & 561.
Note: This is my personal analysis, only for learning.
Thanks
Jubliant Foodworks bounced from the support twice and most probably getting ready to fly.
There is a Butterfly Pattern probability on the chart, if unfolds we can see it moving towards 630 and 640 levels in the coming trading sessions.
Type of Trade: Swing Long trade
Build up on the way up
Trade with Strict SL
Price should sustain above 600-605 zone
The idea here is about Jubilant Foodworks.
Mentioned below are the points to be considered
Points as per TA on a Weekly Chart:
1. Hammer candlestick formation on a weekly chart at the time of publishing.
2. Bat Pattern Completed.
3. Ascending Triangle Formation in place.
4. Support established on 20 EMA on a weekly chart & trading below 50 EMA & above 200...
Jublfood is currently trading in a Darvas box. The moment it breaks either way would give massive move. On upside we could see targets of 600 in short term as that is initial resistance for the stock. On the downside 500 is a good support.
JUBLfood looks good for swing position.
(1) Bullish Butterfly Harmonic Structure (Ref. harmonictrader.com) in daily TF with Swing low in place
(2) Daily EMA cross with Price structure in change
(3) Price volume breakout in Hourly TF
Jubilant Food which runs Dominos in India is trading near breakout zone.
Breaking above 2890 will make it a successful breakout.
Potential target is 3150.
The stock had seen quite a fall in the past few months.
Now it looks like it is forming a base around 2750 -2700 levels.
Immediate Resistance is at 2870 levels, not strong enough to resist prices for long.
Hence holding 2700 levels, the stock is most probably getting ready for a reversal.
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Potential stocks to watch for Intraday trading on 1 Dec 2021 are Tatasteel, Jublfood, srtransfin , TCS , LTI and Alkem .
Caution: Stay away from Travel and hotel stocks
