JUBILANT FOODS Daily NSE Stock Chart Technical Analysis
Jubilant Food is marching ahead since its IPO early this year. Currently, the price is sideways since the last 3 months, topping close to the Rs 560 range.
The price fell on 5 Nov 2010, opening at 565 and closing at 552.65.
Market Outlook: The price is trying to break its high and climb upwards. There is no buy-sell signal yet. If price crosses Rs. 565 and stays up for 2-3 days, there might be a buy signal. There is a price fall on 5th Nov but I feel this is short term profit booking and the price could rise again soon after a brief correction.
Technical Indicators:
The price has moved sideways since 3 months.
Right now, the price is trying to break through its previous high. The intraday highs have managed to do this since the past 3 days, but the price returns to close below the previous high.
If price closes above the line as seen on the chart and remains above it for 2-3 days, there might be a signal to go long.
If the price falls for a few days, which seems unlikely, the support is available at Rs 465.
News:
Jubilant Foods has had a great quarter and a great year. It is planning to expand the business and penetrate both wide and deep. They are also adding accompaniments to the pizzas such as desserts and pastas. Also, they have a range of low-cost pizzas as well to appeal to a larger audience.
The stock seems a good one for the long run, and should grow in 2011 as well.
(Analyzed on request of Mohan, Kolkata)
Chart Source: in.reuters.com
JUBILANT FOODS Daily NSE Stock Chart Technical Analysis
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