Hold Jubilant Foods for Rs 540 target, Rs 420 stop loss: Equityrush

In a chat with ET Now, Kunal Saraogi, technical analyst, Equityrush, talks about the outlook of Jubilant Foodworks.

What's your sense on Jubilant Foodworks right now?

Jubilant Foods broke out very decisively when it cleared resistance of about Rs 420. Since it is a recent listing, we do not have too much of history to go by, but my sense is that Rs 540 is definitely likely if investors can hold it long enough. I would hold on to this stock with a stop loss below Rs 420.