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.
