Jubilantfood
JUBILANT FOODWORKS LTD in uptrendJUBILANT FOODWORKS stock in a uptrend & trading above 50 EMA in all time frames. So stock can be taken for long entry above 1710 as shown in the charts for the next level of 1740. The level of 1740 level is very crucial & tested many times as shown on the charts. Now the Stock in a very bullish mode & also forming the triple bottom patterns. once the stock able to cross the resistance level & well sustain above 1740 then next target level is 1770. So we can say 1800 level can be seen in coming days for the stock.
Always do trading as per your Reward to Risk ratio means Never risk more than you can afford to lose on a single trade. Please keep patience & wait for the levels means Sit and wait for the right opportunity. The idea sharing is for educational purpose only. In case any suggestion advice required feel free to ask .kindly follow & like for more educational ideas.
Short term EW analysis on JUBILANT FOODWORKSC leg of the correction seems to have been started.
Wave 2 is in completion zone so if wave 2 is completed then the price pattern should respect the trendline which is drawn on the chart. If wave 2 is not completed the we will have to revise the trendline.
If W2 is completed and trendline is not breached then SL can be nearest swing high and one can ride the trend.
Note: Pattern gets violated only if price breaches the invalidation point.
JUBILANT FOOD - SWING TRADING PLAN!Marked swing Points, trend lines and Fibonacci level can be used for trading along with some momentum indicators.
Try to lookout for confluence of these parameters, don't trade solely using any one of these parameters.
P.S: This is not an investment advice. This is for learning purposes only. This is my personal journal.
Invest your capital at your own risk.