Jubilantfood 847 is trading in a falling wedge, near to an yearly low now, with a positive divergence in MACD. Immediate resistance is 890 and TL resistance near 1000. On breaking the wedge it can move to higher level target 1400 in an year.
On weekly chart, Stock has taken support at downward sloping trend line which is PRZ of Bullish Butterfly Pattern. Stock has also formed bullish Engulfing candlestick pattern on weekly chart.
Downside support at 835-813
Level to watch on upside 930-980.
OI Analysis:
Price - UP
Volume - UP (nearly 2 lks high from previous day)
OI - UP (+11.70%)
Market - ** will decide on 27th dec**
If market is positive, then Jublfood will fly to heaven (otherwise) fall to hell when market is negative.
Trade:
Buy above - 797
Target - 809
Stop Loss - 787
Reward Points = ...
Jublfood is showing pattern which suggests that the correction might be complete and it is ready to go higher.. I would buy now with stoploss around 800 and Targets of 1000 and higher..
On Weekly chart we can see Jubliant food forming Bullish Shark, wherein we can see overlapping price action and bullish Bars( Hammer & Doji) near its prz area.
Positive Divergence can also be seen in RSI.
Break below the Prz area would invalidate the said probability.
Near term Resistance can be seen at 920-940 levels, hence stock might spent some time near...
It is been observed on the monthly chart that the price action breaks below previous important and major support levels of 970-940 indicating a big bearish move ahead. It shall now move further down to next support levels at around 750 levels in next few months.
Target 1: 852
Target 2: 800
Target 3: 785
Target 4: 755
SL: 1015
Jubilant Foodworks trading in bearish trend for long time and has been unable to break the trend, it is forming a descending triangle pattern, It closed last week on strong support 893.00 and seem to go upward from there with a target of around 1100.00 in near term. traders may go long on this stock, but be cautious of breakout downward, it breakout occurs exit...
Moving in an important demand zone. Earlier it has respected it. This time the Bulls are getting weaker and it has entered into the demand zone. Volumes are high in red candles.
It is been observed that the price action is reaching out to the previous strong and major monthly support levels where the price action generally retraces back due to high buying pressure. There is one more week is remaining in this month end that shall define further trend. Now, it looks in a safe zone until it breaks and close below 915 levels. This chart is...
JUBLFOOD formed H&S pattern in daily chart but stock looking still weak if not able to hold current level you will see 900 or if break 900 then 800-700 also can be in your screen.. support level for JUBLFOOD 990-936-900 and Resistance Levels for JUBLFOOD 1140-1172-1200-1240
It is been observed that the price action firstly breaks out from a symmetrical triangle formed on a daily chart. The price action touched the price levels of 915 which was previous support levels and bounced back quickly to 1080 levels which is previous support of the triangle acting as resistance. Now the price action is retracing and it shall go further down to...
