Bullish Signals Emerge
Jubilant FoodWorks presents two key technical indicators suggesting a potential shift in its direction. The first is a bullish divergence on the daily MACD indicator, where the stock price forms lower lows while the MACD forms higher lows, indicating a potential reversal from a downtrend to an uptrend.
Furthermore, the stock has broken a bearish trend line that had been in place for several months, further strengthening the bullish sentiment. Based on these signals, investors are advised to "go long" in Jubilant FoodWorks within the price range of Rs 470-475 per share. The potential profit opportunity is estimated at Rs 526 per share, with a stop-loss advised near Rs 445 per share.
Breakout Signals Bullish Trend
HDFC AMC has recently broken out of its trading range between Rs 3,600 and Rs 3,800, presenting an attractive opportunity for investors. This breakout is further supported by the breach of the Bear trendline and the closing above the upper Bollinger Band.
The Daily Stochastics indicator also reinforces the bullish sentiment by consistently avoiding the oversold zone prior to the breakout, indicating sustained buying interest. Investors are advised to initiate long positions on HDFC AMC within the range of Rs 3,850-3,900, targeting an upside of Rs 4,275. A stop-loss is recommended at Rs 3,675 based on daily closing prices.
Support and Momentum Indicate Buying Opportunity
Fluorochem has encountered substantial support at the middle Bollinger band, suggesting a potential stabilization in its price movement. Additionally, the daily stochastics indicator has shown resilience by not dipping into the oversold territory, indicating a promising opportunity for investors to consider buying into the stock.
The recommended buying range lies between Rs 3,600 - 3,650. With an optimistic outlook, the target price for the upside is set at Rs 3,850. To manage risk, a stop-loss strategy is advised, with the stop-loss order to be placed near Rs 3,510.