Wait and watch for Jubilant Foodworks: Ashwani Gujral
For Jubilant Foods 700-800 as in the past acted as a fairly strong support. So, we need to look at that.
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| Updated: In a chat with ET Now, Ashwani Gujral, Chief Market Strategist, ashwanigujral.com (Technical Check) shares his views on various stocks.
ET Now: What is your call on Jubilant Foodworks?
Ashwani Gujral: For Jubilant Foods 700-800 as in the past acted as a fairly strong support. So, we need to look at that. Maybe once that gets taken out, we could say that the uptrend is over. But stocks have hit 1000 as it happened with VIP and it had happened with Jubilant Food also. Some kind of peaking out has happened and ever since management has started selling, they are the best guides of when to sell a stock. So, from that day onwards, we have been bearish and this stock needs to correct. We will see what happens at 780 but right now there is nothing to buy in Jubilant.
ET Now: What is your call on Jubilant Foodworks?
Ashwani Gujral: For Jubilant Foods 700-800 as in the past acted as a fairly strong support. So, we need to look at that. Maybe once that gets taken out, we could say that the uptrend is over. But stocks have hit 1000 as it happened with VIP and it had happened with Jubilant Food also. Some kind of peaking out has happened and ever since management has started selling, they are the best guides of when to sell a stock. So, from that day onwards, we have been bearish and this stock needs to correct. We will see what happens at 780 but right now there is nothing to buy in Jubilant.
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