JUBLFOOD : at completion of corrective wave C🔍 Trading Idea: Jubilant Foodworks Ltd. (NSE: JUBLFOOD)
📈 Timeframe: 1H
💰 Current Price: ₹621.55
🎯 Swing Target: ₹709 - ₹723
🎯 Options Target: ₹673
📉 Extended Retracement Zone: ₹602 - ₹630
📉 Extended Wave C Preparation Zone: ₹601 - ₹589
🛑 Stop Loss: ₹585 (Hourly Close)
📊 Analysis:
The stock has shown a sharp rebound from the extended retracement zone (A) near ₹602-₹630.
A potential breakout is forming at point (B), indicating a move towards the swing target of ₹709-₹723.
The extended Wave C preparation zone (C) at ₹601-₹589 acts as a critical support level.
Maintain a strict stop loss at ₹585 to manage risk.
🚀 Strategy:
Entry: Consider entering around current levels or on a pullback to ₹610-₹615.
Risk Management: Tight stop loss at ₹585 to protect against downside.
Exit: Take profits near ₹709-₹723 for swing traders or ₹673 for options traders.
Disclaimer: I am not a financial adviser; please consult one. Don't share information that can identify you.
