Jubilant Foodworks: Headed Down?



JUBILANT FOODWORKS Daily NSE Stock Chart Technical Analysis:

The stock price again opened gap up today and higher than its open, but the close was below the mid-point of the intraday range.  Close & CMP:  590

Market Outlook:

• The stock price could fall, don't buy right now, wait.
• In fact, there might be a chance to take a short position with targets at 550 and 530, if the stock indeed falls tomorrow or on Friday.

Technical Indicators:

• The Deliberation candlestick formation has occured on the chart, a negative signal.
• The stock is majorly oversold, a negative signal.
• The price is facing resistance from the Fibonacci 23.6% Retracement level, a negative signal.

All previous charts and posts about Jubilant Foodworks

JUBILANT FOODWORKS Daily NSE Stock Chart Technical Analysis