January 01, 2016
JUBLFOOD (NSE Cash)
BUY
` 1466
` 1505 - 1500
` 1572
5-10 sessions
1480
1470
1532
1573
Bullish
Daily Chart
Source: Falcon (Time - 09:50 IST)
Post corrective action in last five months, the stock has shown initial signs of resumption of uptrend
by forming higher low on daily charts.
During last week, the stock had given breakout from a small consolidation zone with higher volumes
post which price have retraced 38.2% of the recent upmove.
On hourly charts, the mentioned consolidation had resulted in formation if an ‘Inverted Head &
Shoulders’ pattern and the recent pullback has seen prices taking support at the neckline of the
pattern.
Although prices are trading below the falling trend trendline resistance seen in above chart, we are
anticipating a breakout from the trendline due to the above mentioned positive observations.
Thus, we advise traders to buy this stock from current level and on declines up to ` 1500 for a
target of ` 1572 in coming 5 to 10 trading sessions. The stop loss for this trade set up can be
kept at ` 1466.
January 01, 2016
JUBLFOOD (NSE Cash)
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Source: Angel Research
Research Team Tel: 022 - 40003600
E-mail: [email protected]
Website: www.angelbroking.com
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