JUBILANT FOODWORKSJUBILANT FOODWORKS is consolidating between the levels of 570 to 545 the moment it breaks down the consolidation zone we can see a good fall till 528 as there can be a small hurdle. The further target we are getting is till 500.
500 is good support where it saw the support and reversed back with a double bottom pattern. which also completed the Tripple bottom pattern and then consolidated between 545 to 570. That makes it the most important level to break down .
Another point is that while putting the FIB retracement we can see that the 0.5% rejection level is at the same 545 level and 0.6% is at 526. Because of this, we can see a slow bearish move (DEPENDING UPON THE VOLUME).
We can see pressure building up when moving average of 50 and 100 are crossed that show a negative sign in the market and we can see the breakdown on that point too.
