JUBLFOOD trade ideas
ShortPrevious support + channel, might act as resistance.
Below a small gap is pending to be filled.
Possible short Opportunity
JUBLFOOD ready to move next level !jublfood short term trgt is draw on chart, you can notice uptrend is contineus,
@current leve it take resistance on level wait and watch for entry @bottom of of the value area !
JUBLFOOD Double curve in a parallel channel:A parallel channel is a continuation pattern that slopes up or down and is bound by an upper and lower trend line.
The upper trend line marks resistance and the lower trend line marks support.
Channel Line: The line drawn parallel to the main trend line is called the channel line.
A key concept of technical analysis is that when a resistance or support level is broken, its role is reversed.
If the price falls below a support level, that level will become resistance.
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 FoodWorks 1610 + BreakoutJubilant Foodworks (jublfood) sustaining above 1610 level, we may see breakout till 1645.
JUBILANT Breakaway Gap Long SetupJUBILANT gapping up above a long term resistance level and closing with good buying .
Can go long on pullback to structure with SL 1535
Targets 1900 in coming days.
JUBILANT FOODWORKS Trading SetupDisclaimer: All charts are purely for educational and information purpose only. Invest or Trade at your own risk.
JublFood - sell on riseEven after entering the resistance zone, it failed to sustain.
Sell as near as possible to 1600
LONG JUBLFOODHammer at trend-line. Stock is forming HH-HL pattern.
LONG NSE:JUBLFOOD above 1550
SL 1525
TARGET 1575/1600
Broken TL support for Jublfood. Short on TL retestClosed below TL support. SL closing above TL in 15 mins candle.
Jubilant Foodworks Intraday IdeaNSE:JUBLFOOD
In higher timeframes, stock is trading near its trendline.
A triangle pattern is also forming in lower timeframe and can give good momentum on either after breakout or breakdown.
Keep on your watchlist
JUBLFOOD Trendline looks bearishJUBLFood Looks bearish and waiting for a breakout On trend line. If not it may take a support near 1420.
If it breaks 1420 next support will be near 1300.
JUBLFOOD - double top or parallel channel with bullish pattern ?In the chart i could see the parallel channel is respected perfectly with 5 touchings at the bottom. Morning star candlestick pattern occurred in 1 hr timeframe and hammer formed in 1 day timeframe with huge volume. But here is the confusion, there is a formation of double top chart pattern even with little a retracement. So as per the movement in Monday i'll take a trade on either reversal or breakout accordingly.
Please comment if anyone is having the idea on further movement(reversal or breakout) with logic.
