Mid Term Buy: Jubilant Food Works @ Rs236

Momentum sees deterioration After a quite choppy session, finally Nifty ended the day on a dull note with a loss of 7 odd points on the board.  As far as the technical parameter is concerned the hurdle of 5100 is still not cleared on closing basis. Secondly, the hourly MACD has given a sell signal near 61.8% retracement area of the entire fall, so the overall sentiment still stands in the corner of the bears with 5100 and 5175 acting as a crucial hurdles going ahead. On downside 5045 is the key support below which the slide can deepen upto 4996 in the coming session.

Trading Ideas Remain stock specific from current levels. Mid term trading ideas which we like are Escorts (Target Rs160),Jai Corp (Target Rs290), Dena Bank (Target Rs94) and Hind Oil Expo (Target Rs282). Traders maintain stop loss accordingly. Investment Ideas Jubilant Food Works Ltd: CMP @ Rs236 (Target Rs298)

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