Jubilant Foodworks: Wave 2 Near End?

17 Sep

After peaking at ₹796.75, Jubilant Foodworks entered a corrective A–B–C decline, completing Wave 2 near ₹575 — right at the 0.618 retracement of Wave 1. Price has since held above this key support, suggesting the corrective phase may be complete.

The setup is now simple:

• Entry Zone: Around ₹608 (0.5 retracement)
  
• Stop-Loss / Invalidation: Below ₹575
  
• Target: Initial confirmation above ₹796, with Wave 3 potential extending higher
  

Momentum check: RSI correctly flagged the earlier bearish divergence between Wave 3 and Wave 5, leading to the current correction. At present, RSI sits near 43, capped by a falling trendline. A decisive breakout in RSI above 50 would provide the green light for Wave 3’s bullish acceleration.

If the trendline support holds and momentum follows through, Wave 3 could push well beyond the prior peak at ₹796, opening the door to fresh highs.

Disclaimer: This analysis is for educational purposes only and does not constitute investment advice. Please do your own research (DYOR) before making any trading decisions.

9 Okt

Dagangan aktif

Update:
Price has retraced precisely to the trendline and entry zone near ₹608, right where the volume profile shows strong participation. As long as ₹575 holds, this region continues to look like a solid base for Wave 3 buildup. RSI still subdued but stabilizing — patience could pay off.