Observed possible zone breakout in Jubilant Ingrevia. Where stock was trading in a range for the past few months. Now we can see the price moving towards the upper range with significant volume support. Also, it has already broken the previous trend line with good volume. considering these price is expected to move upwards.
1) Can enter trade if...
JUBILANT INGREVIA LTD
Company is almost debt free.
Buy above 530 for positional targets of 570/600/635
In 6-12 months timeline. Ultimate target upto 750/ 830
Keep safe SL of 400
Above levels are for education purposes only
Do your own analysis before taking any trade
Inverse Cup & Handle Support Tested
Pattern Formation (Retracement from Top) with Low Volumes
Swing Trade for Short Term
Buy at CMP for Tgt 620-630
Positional Trade for Mid Term
Buy Only Above 640 WCB for Tgt 840 - 1025
SL : 490 (Strict Exit)
Positive RSI Divergence, will become stronger once weekly RSI>55
CHART -> Jubilant Ingrevia Daily SETUP
As seen per chart, Jubilant Ingrevia was trading under a trendline and in the downtrend. Recently it broke the upper trendline with good volume. The downtrend seems to be over for Jubilant Ingrevia.
Disclaimer: This is for educational purpose only. This is not any recommendations. I am not SEBI registered. Please consult...
JUBILANT INGRIVIA: DAILY CHART
Currently near to resistance/supply zone.
If there is breakout above 620 then can be looked for the entries.
the probable support / demand zone between 440-470 and SL 400
I am sharing my trendlines in this chart so that you can take informed decision accordingly. The company is fundamentally solid, however, I feel a sharp rise in stock price has lead to a sharper correction in this counter. The whole chemical pack is under pressure currently. Be careful as this is the last strong support line for this counter.