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Jublfoodtrade

Jubilant Foodworks: Key Support Range & Upside PossibilitiesAs per the daily chart, Jubilant Foodworks is approaching a major support range between 600 - 610, providing a potential entry point for traders. The stock shows upside possibilities with targets of 640, 660, or even 679, which could be achieved within the coming week. From a technical standpoint, the Long Period RSI stands at 42, while the RSI 56 is hovering above the 50-point level, signaling a possible bullish trend emerging in the stock. Additionally, the RSI 7 is filling the distance from the major RSI, further supporting a possible upward movement. These RSI readings suggest a strengthening momentum and a potential rally in the short term. Another key factor to watch is Jubilant Foodworks' upcoming quarterly results, which are expected to be declared on October 23rd. Historically, the stock has shown a pre-results rally, and similar movement could be anticipated this time as well. In summary, Jubilant Foodworks presents an attractive opportunity with a strong support range and potential upside targets. The technical indicators and upcoming events are aligning to suggest a bullish outlook in the near term. Keep a close eye on this stock as we approach the results announcement.
NSE:JUBLFOODLong
by Sudhir-Sirohi
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.
NSE:JUBLFOODShort
by AmPe_stockanalytics