Jubilant Foodworks - Time for Profit Booking ?

Jubilant Foodworks JUBLFOOD has had a massive rally since June last year and came up with a strong set of numbers 2 days ago.

However, it is still going down which is a sign that the stock has run up too far and now Investors have started booking profits.

With a Negative Divergence and a Bearish Engulfing candle at the top, the stock presents a nice opportunity to go short !!

Took short position here with a stop loss of around 2690 and first target at around 2300 levels.