Nobody loves Jubilant Foodworks right now. The stock has collapsed to levels of 940 - which it has held for now more than 4.5 years
Here's Jubilant Foodworks stock weekly chart
As you can see in the chart above - Jubilant Foodworks stock has always rallied from levels of 940 in the past. But this time, situation is different. The company is facing real business issues.
The Big question now: Has stock factored in the worst and will hold 940 despite all negative news? Only time will tell but if you believe in the story - keep an eye on what stock does from here. If stock refuses to sell off further, then a base might be building here for future recovery.
One should avoid the stock if one is looking for immediate gains but 940 is a good level to watch for long-term believers in the company. Any breakdown below 920 will create more panic on the counter.
Disclaimer – The state of the market notes is Deepak’s perspective on the market. The column is purely for educational purpose. Nothing contained herein is a solicitation to trade or a recommendation of a specific trade. By reading this publication you agree to make no trade relying in whole or in part on the comments of the writers