Jubilant Foodworks Ltd – Nearing Cup and handle breakout level

On a weekly chart, the stock has formed a cup and handle pattern with pivot price range between 720 and 750.

Positionally, target can be kept at 890 – 920. There can be resistance at 920 levels. Breakout, above 920 with good volumes can see the up-move extend even further.

Stop loss can be kept between 5-8%, based on one’s risk appetite.

Note: Not a buy/sell recommendation. Please consult your advisor