Nimish_Ghagare

Swing Opportunity in Jubilant Food

Long
NSE:JUBLFOOD   JUBILANT FOODWORKS
Go Long above 3192.1, for a Target of 3312.9 with SL 3071.3

Reasons to go Long :

1. On a daily timeframe if we draw the Fibonacci retracement tool from recent swing low (point A) to recent swing high (point B) then we see stock took support from 0.382 Fibonacci level.

2. A bullish chart pattern, Double Bottom (W pattern) is formed around 0.382 Fibonacci level.

3. In addition to this the stock gave a Trendline breakout.

4. Also a Bullish candlestick pattern ( Bullish Engulfing ) is formed around 0.382 Fibonacci level.
Order cancelled: Our Entry did not trigger so we will not trade on this setup

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