vanathi

Jubilant foodworks feels Jubilant!

Long
NSE:JUBLFOOD   JUBILANT FOODWORKS
370 views
16
Jubilant foodworks has broken the weekly downward trendline. After consolidating with high volume , it has broken the trendline showing its bullishness. 910 - 950 is the strong support area . However there is a hidden bearish divergence in RSI . Price may reach the support line again to get support.
Or it will move upward breaking the bearish divergence. Targets are 1200, 1300, 1340, 1400 and 1470. Its a long trade! Needs patience. Always protect your profit by trail stop. Stoploss is 910.
Trade active: @1056 on 3/6/17
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Comments

in a 60 min chart, there is a supply position from 1060 to 1070..some distribution going on and everyday we are seeing closing lower lows..in daily the head and shoulder pattern is also complete...weekly chart it has closed a bit bearish...the dz here exists at 987 to 1006 from where we may see a bounce..my understanding is that it may come down before going up...pl guide...
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Good one
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Nice chart analysis...
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vanathi Prinish2430
@Prinish2430, Thank you...
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vanathi MehulJain3a
@MehulJain3a, Thank you for sharing your view...
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Next Target is 1078 i believe
Cheers
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vanathi shiv2798
@shiv2798, Thank you :)
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good spot will try to buy on pullback
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vanathi Akshay15
@Akshay15, Thank you...
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