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Jubilant Food Technical Analysis #8: Buy | Target Rs 1380 | Arijit Banerjee

OUR RECOMMENDATION

CMP#1255.95
IdeaBUY
Buy Range1225 – 1269
Target1380 – 1450
StopLoss*1115
Duration25 – 30 Trading Sessions
Potential Return^10 – 15%
CMP#IdeaBuy RangeTargetStopLoss*DurationPotential Return^
1255.95BUY1225 – 12691380 – 1450111525 – 30 Trading Sessions10 – 15%

# CMP on Dec 11, 2019
* Maintain recommended StopLoss by daily closing basis.
   Once 1st target hit, reset StopLoss at 1318.
^ The returns are calculated based on CMP#

COMPANY OVERVIEW

Jubilant Foodworks Ltd, a food service company, has exclusive rights to develops and operates the Domino’s Pizza brand in India, Nepal, Bangladesh, and Sri Lanka. The company also has the rights to Dunkin’s Donuts and Hong’s Kitchen resturants in India. Jubilant Foodworks standalone revenue from operations increased 21.3% to Rs 881.36 crore from Rs 726.64 crore in the last year; Net Profit improved 60.24% to 77.67 crores.

Stock Data
NSE CodeJUBLFOOD
Sectoral IndexNifty Services
52W High1578
52W Low823.7
Face Value10
Relative Performance_Jubilant Food vs Nifty Services

TECHNICAL OBSERVATIONS (WEEKLY)

  • The share price of Jubilant Food witnessed a strong rally during 2017-Mid 2018, rallying from ₹450 to lifetime high of ₹1578. 
  • Since September 2018, the price started falling.
  • Last two weeks before, the Stock Price make Breakout above the Weekly Resistance to signal resumption of the primary uptrend.
Jubilant Food Weekly Chart
Jubilant Food Weekly Chart

TECHNICAL OBSERVATIONS (DAILY)

  • Higher Tops and Higher Bottoms at Daily Charts.
  • Price has been holding above all important Moving Average parameters.
  • The current development of candlestick pattern associated with high volume.
Jubilant Food Daily Chart
Jubilant Food Daily Chart

MONEY MANAGEMENT AND TRADING RULES

1)  It’s advisable not to enter/exit beyond the recommended range.
2)  Strictly follow the StopLoss as mentioned. Honour it.
3)  Use trailing StopLoss to retain profits.
4)  Diversify trading capital into our other technical recommendations.
5)  Risk only the money what you can afford to lose. Hedge accordingly.

ANALYST SUMMARY

The research analysis is prepared by Arijit Banerjee, CMT, CFTe. He is a veteran trader and an active investor having in-depth knowledge in financial market research, advanced technical analysis, market cycle, algorithmic trading and portfolio management. Arijit is a Chartered Market Technician (CMT) accredited by CMT Association USA, the leading global authority of Technical Analysis and has been honoured by Certified Financial Technician (CFTe) from the International Federation of Technical Analysts, USA. SEBI, the regulatory body of Indian financial market also recognizes him as a Research Analyst (INH300006582).

Disclosure

The views expressed herein are based solely on information available publicly/internal data/other sources believed to be reliable, but is not necessarily all-inclusive and is not guaranteed as to accuracy. The recommendations provided herein is solely for informational purposes and are not intended to be and must not be taken alone as the basis for an investment/trading decision. Trading and investing are subject to market risk and the securities discussed and opinions expressed herein may not be suitable for all investors. To read the full disclosure, please click here.

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