Jubilant Foodworks finds good base at 800: Mitesh Thacker

In a chat with ET Now, Mitesh Thacker, miteshthacker.com, talks about Jubilant Foodworks.

ET Now: What is the call on Jubilant Foodworks?

Mitesh Thacker: There are couple of things to be observed over here. One is that the uptrend is maintained. What this stock did was it made a high of about 860 after rallying very smartly from 660 odd levels in the month of May, went through some consolidation in the month of June. For last 15-20 sessions, it has been sideways but it has found a good base at 800. Now having gone through that exercise started to move up yesterday and then we are seeing some follow up happening today. So I would be positive, I would at least expect a minimum retest of about 860 probably a crossover and this stock price should make a new high. So if somebody wants to enter, can enter and if it is a very short term horizon, 800 which was the last base would be the stop loss and the targets would be in range of about 890 to 900.