Jubilant Foodworks - Time for Profit Booking ?
Jubilant Foodworks 
JUBLFOOD has had a massive rally since June last year and came up with a strong set of numbers 2 days ago.
However, it is still going down which is a sign that the stock has run up too far and now Investors have started booking profits.
With a Negative Divergence and a Bearish Engulfing candle at the top, the stock presents a nice opportunity to go short !!
Took short position here with a stop loss of around 2690 and first target at around 2300 levels.
JUBLFOOD has had a massive rally since June last year and came up with a strong set of numbers 2 days ago.However, it is still going down which is a sign that the stock has run up too far and now Investors have started booking profits.
With a Negative Divergence and a Bearish Engulfing candle at the top, the stock presents a nice opportunity to go short !!
Took short position here with a stop loss of around 2690 and first target at around 2300 levels.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.