The latest analysis and commentary by stock market guru Manav Chopra of Indiabulls Venture on what is moving the markets today.
He also spoke at length on Jubilant FoodWorks and Havells.
“I have two sell calls I sense the market could witness some sort of a decline in the near term so my first sell call is on Jubilant FoodWorks. Basically the prices have declined from its weekly support levels and the momentum indicators have turned negative. Prices are also trading below its long term averages. On the immediate basis Rs 1,285 is the important resistance where we can expect some selling pressure. One can maintain a stop loss of Rs 1,292 on the upside expect lower targets of Rs 1,210. My second sell call is on Havells futures. Basically the prices have breached its weekly support levels and this breakdown has also accompanied by good amount of volumes. A stop loss of Rs 755 for Havells for lower targets of Rs 695.”
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