Jubliant Foodworks Ltd (JUBLFOODS)
Likely target: Rs 3,100
Upside potential: 6.16%
After dipping below the 100-days moving average (DMA), the counter is making efforts to conquer the 50-DMA placed at Rs 2,917. If that happens, the stock may move towards Rs 3,100 levels, as per the daily chart. The Relative Strength Index (RSI) needs to cross the immediate resistance of the 53 value, which could make the trend more decisive and push the stock higher. The closing basis support stays at Rs 2,813, which is its current 100-DMA. CLICK HERE FOR THE CHART
Avenue Supermarts Limited (DMART)
Likely target: Rs 2.860
Upside potential: 1.27%
One can clearly see the stock facing resistance of 50-DMA and 100-DMA, placed at Rs 2,976 and Rs 2,860 levels, as per the daily chart. These levels have become stiff resistance zone, which the counter needs to conquer to attain a bullish bias. Until then, every upside is likely to witness selling pressure, as per the moving averages. The current trend indicates a short-term bounce where the stock can attempt to cross the 100-DMA. CLICK HERE FOR THE CHART
Westlife Development Ltd (WESTLIFE)
Likely target: Rs 440
Upside potential: 4%
After breaching the 200-DMA, the stock has seen a sharp rebound. This recovery needs to sustain and the stock now needs to scale above Rs 440 levels, which is the next resistance, for the next leg of upside. Until then, it may hold the closing basis support of Rs 412, which is its 200-DMA. The RSI has moved up from the oversold territory. If the counter manages to hold on to the momentum, the upside bias may hold and the stock can then aim at achieving Rs 440 levels. CLICK HERE FOR THE CHART
Burger King India Ltd (BURGERKING)
Likely target: Rs118 (upon breaching Rs 126 mark)
Downside potential:6.35%
The counter is clearly resisting the 50-DMA currently placed at Rs 138 levels, as per the daily chart. That’s said, until the gap-down range of Rs 135.55 to Rs 134.40 does not get filled, the weakness may aggravate and can take the stock to the next support of Rs 126. A breach can then take it down further towards Rs 118, as per the daily chart. CLICK HERE FOR THE CHART
Sastasundar Ventures Ltd ( SASTASUNDR)
Likely target: Rs 200
Upside potential: 21%
The counter has successfully closed above the resistance of Rs 150. This indicates further upside towards Rs 200 levels in the days ahead. The volume structure shows an increased interest of market participants, which is good for the stock. Until the counter manages to sustain above Rs 140 levels, the upside bias is likely to hold in the coming sessions. CLICK HERE FOR THE CHART
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