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Uptrend likely to resume in Jubilant Foods, VIP Inds, says Vaishali Parekh

Both the stocks seem to have bottomed out after a decent correction and now indicate a trend reversal on the charts, says the technical analyst from Prabhudas Lilladher

Topics
Buzzing stocks | Market technicals | stocks technical analysis

Vaishali Parekh  |  Mumbai 

technicals
technicals

BUY JUBILANT FOODS
CMP: Rs 3,689
TARGET : Rs 4,200-4,250

STOP LOSS: Rs 3,550

The stock has witnessed a decent correction from the peak of Rs 4,590-level and has bottomed out near the previous support base of Rs 3,590 levels followed by improvement in the bias with signs of reversal indicated and immense potential anticipated on the upside.

The RSI also has flattened out after the steep fall and is well placed near the oversold zone showing signs of a trend reversal and has potential to rise further in the coming days. We suggest to buy and accumulate this stock for an upside target of Rs 4,200-4,250 keeping the stop loss of Rs 3,550. CLICK HERE FOR THE CHART

BUY VIP INDS
CMP: Rs 543
TARGET : Rs 630-650
STOP LOSS: Rs 510

The stock has been overall in a rising trend with recently witnessing a short correction and taking support near the significant 50-EMA level of Rs 500 and regaining strength to improve the bias. The RSI also has indicated a trend reversal to signal a buy and is well placed with strength and potential to carry on the momentum still further upside.

With the chart looking attractive, we suggest to buy and accumulate this stock for an upside target of Rs 630-650 keeping the stop loss of Rs 510. CLICK HERE FOR THE CHART

Disclaimer: The author is a technical analyst with Prabhudas Lilladher. She may have positions in one or more stocks mentioned above. Views are personal.

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First Published: Mon, November 01 2021. 07:41 IST
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