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.
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JUBLFOOD trade ideas
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.
2 month Prediction - UP TrendConsolidate now for 1 - 2 weeks > move towards 1900 and later 52 wks high
Jubliant food Short idea for coming days In Daily TF it has formed a Bearish flag and where the selling pressure was predominately higher till 1136 from there it took a little correction where in 4HTF it has formed a rising wedge making HH and HL and on 3rd April it has made a recent LL and formed a new supply zone in 4HTF. Once it retested the 4HTF supply zone we can go for sell enteries in lower TF. Will keep you posted with the updates.
Jubilant food level to watch 1000-1100Looks like jubilant is about to bottom at 1000-1100.
Lockdown is going to give huge opportunity for pizza so definitely a multibagger to watch
Jublfood levels for 16-Mar-2020(Intraday)Above 1545 for 1555,1580,1620
Below 1450 for 1440,1420,1380
Critical Zone- 1450-1545(sideways)
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