Jubilant Foods: Trend Triangle

JUBILANT FOODS Daily NSE Stock Chart Technical Analysis:

Jubilant Foods is in a trend triangle and most probably a breakout will occur on 27th, Monday.

Close & CMP: 548

• Upper breakout is 551 for going long and lower breakout is 540 for going short.  Trade only in direction of overall NIFTY trend.
• The momentum is wavy and so the direction of this stock cannot be trusted yet, so avoid taking long term positions.
  
• Jubilant Foods ट्रेंड त्रिकोण में है.  शोर्ट टर्म ही ट्रेड करें, अभी कोई लम्बे समय तक चलने वाला ट्रेंड नज़र नहीं आ रहा है. 

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JUBILANT FOODS Daily NSE Stock Chart Technical Analysis

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

Jubilant Foods Support @ Rs 565-570

JUBILANT FOODS Daily NSE Stock Chart Technical Analysis

Jubilant Foods CMP at 600.2 after a intraday high of 621.7.

Market Outlook:

• The price is falling further.  There is support near 565-570 levels.

Technical Indicators:

• The day ended with an inverted hammer candlestick.
• The other indicators are showing a possible downward journey.
• Seems like the price is making a correction after a sudded rise following good Q2 result announcement last week.  
• The previous resistance was near 565, this should now act as support when the price falls until there.
• If the price does not go below 595, there is an opportunity to buy.

JUBILANT FOODS Daily NSE Stock Chart Technical Analysis

Jubilant Foods Resistance @ Rs 565

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