Jubilant Foodworks - A potential for upmove
Updated
This stock is trading with steady volumes on the bourses in all time frames for last 18 months.
It shows positive divergence on oscillators.
The 52W H/L is INR 586.35 / 412.20.
It has now entered the demand zone in all major time frames.
It is trying to build the support at current levels in the past 4 trading sessions.
LTP on NSE on 09/Feb/2024 was INR 482/- (with a high of INR 484/-)
Although it has entered the demand zone in all time frames, still conservatively I will buy even at a dip to Rs.450/-
Resultantly after all this discussion, I believe that the target price should be INR 620-650.
Stop Loss should be INR 412
Risk to Reward will be 1:5
The time horizon should be 6-9 months
It shows positive divergence on oscillators.
The 52W H/L is INR 586.35 / 412.20.
It has now entered the demand zone in all major time frames.
It is trying to build the support at current levels in the past 4 trading sessions.
LTP on NSE on 09/Feb/2024 was INR 482/- (with a high of INR 484/-)
Although it has entered the demand zone in all time frames, still conservatively I will buy even at a dip to Rs.450/-
Resultantly after all this discussion, I believe that the target price should be INR 620-650.
Stop Loss should be INR 412
Risk to Reward will be 1:5
The time horizon should be 6-9 months
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