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.