JUBILANT FOODWORKS - TRENDLINE BREAKDOWN (BEARISH SETUP)

Short

JUBILANT FOODWORKS (NSE:JUBLFOOD)

NSE:JUBLFOOD JUBILANT FOODWORKS

trendanalysis chartpattern indicator trendlinebreak relativestrength

JUBLFOOD

BEARISH SETUP - Breakdown from a long supporting trendline (rising wedge pattern) with decent volumes supporting the bearish momentum.
RSI and RS confirms the charge of bears. Thus a good downside move can be seen in next few trading sessions.

View: It will bleed more (may be after a short retracement). Since it is showing weakness on relative strength. Momentum may continue

PS: Trade with caution or wait for some more price action.

Diclaimer: Take this view only for educational purpose. Trade on your own risk.
Happy trading!

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