🔍 Trading Idea: Jubilant Foodworks Ltd. (NSE: JUBLFOOD)
📈 Timeframe: 1H
💰 Current Price: ₹621.55
🎯 Swing Target: ₹709 - ₹723
🎯 Options Target: ₹673
📉 Extended Retracement Zone: ₹602 - ₹630
📉 Extended Wave C Preparation Zone: ₹601 - ₹589
🛑 Stop Loss: ₹585 (Hourly Close)
📊 Analysis:
The stock has shown a sharp rebound from the extended retracement zone (A) near ₹602-₹630.
A potential breakout is forming at point (B), indicating a move towards the swing target of ₹709-₹723.
The extended Wave C preparation zone (C) at ₹601-₹589 acts as a critical support level.
Maintain a strict stop loss at ₹585 to manage risk.
🚀 Strategy:
Entry: Consider entering around current levels or on a pullback to ₹610-₹615.
Risk Management: Tight stop loss at ₹585 to protect against downside.
Exit: Take profits near ₹709-₹723 for swing traders or ₹673 for options traders.
Disclaimer: I am not a financial adviser; please consult one. Don't share information that can identify you.
📈 Timeframe: 1H
💰 Current Price: ₹621.55
🎯 Swing Target: ₹709 - ₹723
🎯 Options Target: ₹673
📉 Extended Retracement Zone: ₹602 - ₹630
📉 Extended Wave C Preparation Zone: ₹601 - ₹589
🛑 Stop Loss: ₹585 (Hourly Close)
📊 Analysis:
The stock has shown a sharp rebound from the extended retracement zone (A) near ₹602-₹630.
A potential breakout is forming at point (B), indicating a move towards the swing target of ₹709-₹723.
The extended Wave C preparation zone (C) at ₹601-₹589 acts as a critical support level.
Maintain a strict stop loss at ₹585 to manage risk.
🚀 Strategy:
Entry: Consider entering around current levels or on a pullback to ₹610-₹615.
Risk Management: Tight stop loss at ₹585 to protect against downside.
Exit: Take profits near ₹709-₹723 for swing traders or ₹673 for options traders.
Disclaimer: I am not a financial adviser; please consult one. Don't share information that can identify you.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.