A bull divergence occurs when the stock price forms lower lows while the MACD indicator forms higher lows, indicating a potential reversal from a downtrend to an uptrend.
The breach of the bearish trend line suggests a potential shift in the stock's direction from bearish to bullish.
To manage risk, a stop-loss is advised to be placed near Rs 485 per share, on a daily closing basis.
On the daily chart, the Stochastics indicator has given a bullish crossover near the oversold zone, signalling a potential upward movement in the stock price.
The anticipated upside target is Rs 3,850, and it is recommended to set a stop-loss at Rs 3,545 based on daily closing prices to manage risk.
Jubilant FoodWorks
Jubilant FoodWorks has two key technical analysis signals: a bull divergence on the daily Moving Average Convergence Divergence (MACD) indicator and a violation of a bearish trend line that had been in place for 3-4 months.
A bull divergence occurs when the stock price forms lower lows while the MACD indicator forms higher lows, indicating a potential reversal from a downtrend to an uptrend. The breach of the bearish trend line suggests a potential shift in the stock's direction from bearish to bullish.
Based on these signals, we advise investors / traders to "go long" in Jubilant FoodWorks within the price range of Rs 522-532 per share. Additionally, upside target of Rs 600 per share, indicating the potential profit opportunity. To manage risk, a stop-loss is advised to be placed near Rs 485 per share, on a daily closing basis.
Godfrey Phillips
At the current juncture, Godfrey Phillips is finding support around its previous breakout zone of Rs 3,300-3,400, which indicates a consolidation phase. On the weekly chart, the stock is consistently trading above the middle Bollinger band, suggesting a bullish trend as this middle band often represents a key support level.
On the daily chart, the Stochastics indicator has given a bullish crossover near the oversold zone, signalling a potential upward movement in the stock price. Given these technical indicators, it is advised to buy Godfrey Phillips in the range of Rs 3,630-3,660. The anticipated upside target is Rs 3,850, and it is recommended to set a stop-loss at Rs 3,545 based on daily closing prices to manage risk.
CIE Automotive India
