the_consolidation_guy

Possible Channel Breakout in JUBLFOOD

Long
NSE:JUBLFOOD   JUBILANT FOODWORKS
Notes:

  • Been in a channel since 4th Feb.
  • Currently hugging the resistance zone around 3212 (Only cause for concern is the set of small body candles with a bearish bias).


Please note - Not a SEBI Registered Advisor/Analyst. Only for Educational Purposes. Please Consult your financial advisor before you take any action.
Trade active: Got to love that candle on 11th June 😂
Comment: Thinking of confirming the breakout only if the candle closes above 3250 since that level has now been tested twice during the consolidation.
Comment: Even though the Q4 results were pretty decent (Net Profit at 395% YoY), they were still below the analysts estimates which could be why even the results were unable to result in a breakout candle. Looking forward to the next session for a confirmation.
Trade active: Although it was a gap up opening, the first candle (15mins) nearly touched our level 3212 before bouncing back strong to test the days high in the following candles.

Missed entry, therefore couldnt take an intraday position.

Would probably wait for another testing to confirm breakout before taking any swing positions..
Comment: Got a chance to take an intraday position today. Captured around 0.7% move. Wasn't very confident because of the market in general.

Comments

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