JU­BI­LANT FOODWORKS

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I’m hold­ing 200 shares of Ju­bi­lant Foodworks since past 2-3 years. Cur­rently, the stock has wit­nessed cor­rec­tion from higher lev­els. Is this the time to take prof­its off the ta­ble?

- Zaki Ah­mad

BOOK PROFIT IN JU­BI­LANT FOODWORKS

Ju­bi­lant Foodworks is cur­rently trad­ing at Rs 1126.25. Its 52-week high/low stand at Rs 1578/Rs 696.23 made on Au­gust 28, 2018 and Oc­to­ber 4, 2017, re­spec­tively. The stock af­ter reg­is­ter­ing its 52-week high wit­nessed break­down from up­ward slop­ing trend­line, and there­after, it formed lower peaks and lower troughs and cur­rently the stock is trad­ing be­low its 100DMA and 200-DMA. The stock has slipped be­low its cru­cial mov­ing av­er­age for the first time since July, 2017, which is neg­a­tive for the stock. On the weekly time frame, the stock has breached 50-pe­riod mov­ing av­er­age. Thus, we would ad­vise to book your prof­its in the stock.

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