Buy Jubilant Foodworks, target Rs 1,580: Nagaraj Shetti

Nagaraj Shetti of HDFC Securities has a buy call on Jubilant Foodworks with a target price of Rs 1,580.

The current market price of Jubilant Foodworks is Rs 1,448.15.

Time period given by the analyst is four weeks when Jubilant Foodworks price can reach the defined target.


Nagaraj Shetti recommended keeping a stop loss at Rs 1,345.

"The stock, as per the weekly chart, signals an upmove after a consolidation of the last week. The stock has witnessed an upside breakout of the resistance of Rs 1,375 in this week and is currently trading higher. There is a formation of consistent higher bottoms as per weekly chart and this pattern indicates a strength of an uptrend in the near-term. The weekly 14 period RSI has moved above the key upper levels of 60, which signals a possibility of further upside momentum in the stock," said Shetti.

Jubilant Foodworks, incorporated in the year 1995, is a largecap company (having a market cap of Rs 18,857.72 crore) operating in thee food processing sector.