Jubilant Foodworks - A potential for upmoveThis 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
Jubilantfoodanalysis
Jubilant Foodworks Trend AnalysisExpect support around 365 level, which lies in confluence with key support trendline.
FIIs sold a major chunk, which was bought by DII's & retail public.
Rising debt is concerning while profit figures are getting better with better sales and OPM%.
Can accumulate around 350-380 levels for the following targets:
Short term swing target @ 550 (50% ROI with 5.3 R:R)
Medium term swing target @ 750 (105% ROI with 11 R:R)
Long term positional target @ 1100 (201% with 21 R:R)
Stop loss @ 330
Do your own due diligence before taking any action.
Peace!!