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JUBILANT FOODWORKS LTD
Short

JUBLGFOOD: Short Patten prominent

By pradipandsuvra
JUBLFOOD, in hourly chart showing a clear downtrend after breaking one lower lows.
Then after making a nice up move upto point 4 in the chart, it unables to break the double-bottoms (1 and 3) W patten. At that time the volume candle was high. So it actually reinforces the downtrend.

Lets wait for it to break down the price corresponds to point #3 in the chart (535) and then it will lead to further fall. SL the current consolidation zone (why? - if prices pushes up, it will again go on this purple rectangular consolidation zone).


Trade: Sell below 535, SL: 543, T: 530/522/518

Double Top or BottomElliott WaveindianstocksanalysisJUBLIANTFOODWORKSstocktosell
pradipandsuvra
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