Buy Jubilant Foodworks on decline: Mitesh Thacker

Mitesh Thacker, Technical Analyst, miteshthacker.com, in a chat with ET Now, gives his stock call


Is there a trade to be initiated in Jubilant Foodworks?

Not yet. While we have had good numbers but may be the news was discounted. We have had a rally before the numbers and we have not seen a very strong reaction compared to a 6% fall yesterday, we are just up by 3%. The stock might just settle down for sometime before giving a directional move. It is just kind of getting tired in the up move which started from Rs 750 odd levels so wait for a big down or a probably a corrective dip which could be because of profit booking and sub Rs 900 is the target which where I would look at Jubilant again.