January 20, 2017
Jubilant Foodworks (NSE Cash)
BUY
` 828
` 865 - 871
` 945
14 - 21 Sessions
Daily Chart
Breakout with
huge volumes
Source: Falcon (Time: 10:50 IST)
Justification:
Of late, we witnessed a decent recovery in this stock from December month low of `760.50. Due to recent
consolidation, the stock prices were in process of forming a ‘Cup and Handle’ pattern which has a bullish implication.
The said pattern got activated during Wednesday’s session as the stock prices soared nearly six percent to give a
decisive breakout from trend line resistance of `853. This price activity was accompanied by humongous volumes,
nearly three-fold of its average daily volumes. In addition, the ‘RSI-Smoothened’ on daily chart has started moving
northwards, providing credence to the breakout. Thus, we advise traders to buy this stock at current levels and on
declines to `865 for a target of `945 in coming 14 - 21 sessions. The stop loss for this trade set up can be kept at
`828.
Sameet J Chavan
022-3935 7600 Extn: 6552
1
January 20, 2017
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Target Achieved
Source: Angel Research
Research Team Tel: 022 - 3935 7600
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