In the previous session, the Nifty Index saw a strong gap up opening and managed o sustained above 17650 level throughout the day. Prices have been forming Doji candles since the last two days at higher level and moving in higher high and higher lows formation. The overall market looks to be volatile, hence a cautious and stock specific approach is advisable for the next trading day.

 Look at the below research report of ‘Stocks to Buy for Friday, August 12, 2022’ before the market opens.

Jubilant Foodworks Ltd.

JUBLFOOD is moving in a rectangular range over the last few days on the daily chart. . Recently, stock has given a breakout from the upper resistance line of the said pattern. In the last trading day, JUBLFOOD share prices formed a bullish candle on the chart and closed with a net gain of 3.44%. Prices are comfortably close above the 100 EMA support which suggest a bullish trend is intact and we can expect upside momentum to continue from breakout levels.

The short-term trend for JUBLFOOD looks to be positive for now. Positions can be created above 590 levels, which can take prices towards 626 levels. For the near term, the zone of 570 has now become a temporary immediate support for the stock.

Check More Analysis on JUBLFOOD at: Jubilant Foodworks Ltd