Udaan - Buy Jubilant Foodworks Ltd:: Edelweiss

Please Share::

�� India Equity Research Reports, IPO and Stock News Visit http://indiaer.blogspot.com/ for complete details ��

��

-->

Jubilant Foodworks’ stock price witnessed a spurt in mid November 2014 when it broke out of the two year horizontal trendline. The price on the weekly chart has given a strong breakout at 1400 after it reversed from 1,390- 1,397 levels thrice - in Sept. 2012, Nov 2013 and Sept. 2014. Post Diwali, its stock price broke the highs and registered the new all-time high of 1,497, a rally of 7% in five trading days. The price has corrected in the current week to re-test the breakout level, making a low of 1,406 today, giving an opportunity to go long to those who have missed the previous breakout. The breakout is strongly supported by momentum oscillators and rise in trading volume.

The stock has given a strong breakout from a two-year long consolidation range of 930-1400. The breakout from the 460 pts ranged rectangle pattern implies a target of 1800 in the medium term.

LINK

https://www.edelweiss.in/research/Udaan--Buy-Jubilant-Foodworks-Ltd/10005233.html