NeeteshJain

JUBILANT FOODWORKS BREAKING SYMMETRICAL TRIANGLE

Short
BSE:JUBLFOOD   JUBILANT FOODWORKS LTD
It is been observed that the price action firstly breaks out from a symmetrical triangle formed on a daily chart . The price action touched the price levels of 915 which was previous support levels and bounced back quickly to 1080 levels which is previous support of the triangle acting as resistance. Now the price action is retracing and it shall go further down to 1000 levels to confirm previous resistance as support. If it breaks and close below 1000 levels then further sell off shall be observed in the stock price levels.

Target: 1000
Stoploss: 1080
Trade active: Now, proceeding towards targets
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