Jubilant food works | Double bottom pattern | Latest stock market news
(3 minutes read)

Stock name: Jubilant food works

Pattern: Double bottom pattern (on daily)

Time frame: Weekly

Observation:
The stock has been correcting since a very long time and has recently started to consolidate in the support area marked in the image below. If the stock bounces strong from here, we can see an up-move, but if good up-move is not seen in the coming days, it will indicate weakness in the stock and we would be able to see a further downside in this counter.

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Disclaimer: This analysis is purely for educational purpose and does not contain any recommendation. Please consult your financial advisor before taking any financial decision.

News for the day:
1) Chinese President XI Jin Ping to visit Russia between 20 and 22 March

2) The Union government may defer the $4 billion IDBI Bank privatization plan over concerns that the unprecedented market volatility may deter prospective buyers, two people familiar with the matter said.
3) TCS on thursday announced that its MD & CEO Mr. Rajesh Gopinathan has tendered his resignation. TCS’s board has appointed K. Krithivasan as the Chief Executive Officer Designate with effective from 16th March 2023.