padiyara

Jubilantfood 847 is trading in falling wedge,immidiate res:890

Long
NSE:JUBLFOOD   JUBILANT FOODWORKS
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11
Jubilantfood 847 is trading in a falling wedge , near to an yearly low now, with a positive divergence in MACD . Immediate resistance is 890 and TL resistance near 1000. On breaking the wedge it can move to higher level target 1400 in an year.
Comment: STOP LOSS for trade 819
for long term keep a stop 760
Comment: going to break the initial resistance 890.
Comment: 890 strong resistance touched today.
Comment: Very close to a resistance ,MACDO Zero Line resistance will be strong here.
Comment: 1008. target achieved
Comment: it will have small resistance at the trend line near 1054, and hopefully it will have a break out from the falling wedge and find target 1400 as marked above.
This 1370 -1400 is the supply zone and no much change in expectation,
where as, a slanting trend line target expectation meets different values, based on the time it takes to reach there.
Like in this case my TL resistance was expected around 1000 , will increase as the price move faster.
One more thing, if you see from the July top, the breakout is already happened.so no worries about the target, it will go high.
Comment: Break out from the wedge
Comment: Protect Your Gains with Partial Profits or Trailing Stops 1071
Comment: 7 months Now ,crossing the expected target 1400 and the top was1445

Comments

Really a great set up and I did trade every day in this scrip with the guidance of your set up. Thanks heaps and appreciate
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padiyara Subra1953
@Subra1953, nice to see that.
thank you
Reply
so what next ?
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padiyara HappyVijay
@HappyVijay, making a flag to go go next level
Reply
Super!
Reply
padiyara vanathi
@vanathi, thank you
Reply
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