Downtrend channel Breakout in JUBLFOOD For Target 2450+
In today's session, Jubilant Food made a breakout of the downtrend channel. Possible it will show small retracement before the bullish rally towards the 2450+ levels which is nearly 200+ points from entry-level.
According to Fibonacci retracement possible, it will retrace till 2200 level once. After that, if it breakout the rejection level of 2245 then we can go long for the first target of 2350 and final target 2450+ with a well-defined stop loss of 2200.
Possible trade after retracement:
Buy JUBLFOOD 2245-2250
Stop-loss - 2200
Target 2350 2450+
According to Fibonacci retracement possible, it will retrace till 2200 level once. After that, if it breakout the rejection level of 2245 then we can go long for the first target of 2350 and final target 2450+ with a well-defined stop loss of 2200.
Possible trade after retracement:
Buy JUBLFOOD 2245-2250
Stop-loss - 2200
Target 2350 2450+