Post Sapphire's debut, chart check on Burger King, Barbeque, Zomato stocks

Food and food-related players are expected to jump up to 15 per cent in coming days

Sapphire Foods on Thursday made a healthy stock market debut on the bourses, as the shares were listed at Rs 1,350, a 14 per cent premium against issue price of Rs 1,180 per share on the National Stock Exchange (NSE). As of 11:45 AM, the stock had moved in a range of Rs 1,384 and Rs 1,160 and quoted at Rs 1,229 - still up 4 per cent compared to its issue price.

Meanwhile, here's how the stocks related to the sector look on charts.

Burger King India Ltd (BURGERKING)

Oultook: Sideways movement, major breakout above Rs 175

The shares of Burger King India have a support of Rs 150 levels, which needs to be considered on a closing basis, and as long as this decisive mark is upheld, the positive bias may take the stock towards the resistance of Rs 175, according to the daily chart. While, the Moving Average Convergence Divergence (MACD) struggles at the zero line, if the stock respects the Rs 150 mark, the bullish strength may show strong upward momentum. CLICK HERE FOR THE CHART

Zomato Ltd (ZOMATO)

Likely target: Rs 170 and Rs 185

Upside potential: 8% to 15%

Zomato shares are making efforts to cross the sideways move of the range Rs 150 to Rs 120 levels with aggressive volumes.  This effort may result in a breakout that could see Rs 170 and Rs 185 levels. The MACD has conquered the zero line upward with a positive breakout indicating an up move in coming sessions. In addition, the Bollinger Band has widened after the squeeze reflecting a positive breakout, according to the daily chart. CLICK HERE FOR THE CHART

Jubilant Foodworks Ltd (JUBLFOOD)

Likely target: Rs 4,400

Upside potential: 10%

The broader outlook for the stock remains positive as long as the support of Rs 3,500 is held, which is the rising trendline, according to the weekly chart. Furthermore, the stability above Rs 4,000 levels may induce more interest of market participants to look at a bullish rally often. This sentiment may drive stock towards Rs 4,400 levels. CLICK HERE FOR THE CHART

Barbeque-Nation Hospitality Ltd (BARBEQUE)

Likely target: Rs 1,700

Upside potential: 10%

The stock has a support Rs 1,350 levels, which was the breakout mark lately, according to the daily chart. The immediate support comes at Rs 1,420, which the stock has honored with a recent turnaround. The overall trend is bullish above the support of Rs 1,350 and may see a swing towards Rs 1,700 levels, according to the daily and weekly formations.   CLICK HERE FOR THE CHART