Stock of Day – Jubliant Food

A stock which was once a speculators delight fell into a broad range stiffing many trader ambitions to make enough dough to buy some pizzas :). On the weekly charts, the stock shows a Ascending Triangle pattern with today’s low being on the support trend-line. While the stock trades below the 200 bar average on the daily charts, the fact that this stock has repeatedly whipped the average gives a lower level of confidence about the ability of 200 MA to provide for direction on the short to medium term.

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About Prashanth

Have been a full time participant in the stock markets since 1996. Run a Yahoo Group where focus is exclusively on discussions of the Indian Markets using Technical Analysis as the tool (groups.yahoo.com/group/technical-investor)
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