Jubilant Food Works

7 ก.พ. 2023

Hello and welcome to this analysis

The stock has been in a decline since Sept 2021, all bounces have so far been sluggish as it continues to make a lower high lower low pattern. It was removed from Nifty Next 50 hence the recent exit pressure from Index based funds

In the immediate short term due to a heavily oversold scenario a dead cat bounce appears to be in the making. This could either bounce back to 500-525 or form a triangle (higher probability) as long as it holds last week low.

Overall chances of this being a bottom look slim unless it starts sustaining above 535. We might see value buying coming near 375-350.