Jubilant Foodworks, setting up tone for the next move.
Jubilant Foodworks: has been correcting a major trend that started in December 2016. Lately it has been forming lower highs. The correction is expected to continue i the near future if the levels of 1150 is breached (closing basis). Below 1150 it is expected to reach to 1095 – 980 levels.
However there is an invalidation point attached to the above analysis, a close above 1275 will mark the end of the correction and resumption of the trend up!
Keep hooked to the chart, this presents a good opportunity to trade in both directions.
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