The stock's 7 per cent gain on Friday pushed its weekly gains to 12 per cent. After registering a 52-week low on May 18 at Rs 222, the stock started to move higher. This up move is triggered by a positive divergence in the daily and weekly moving average convergence divergence indicator. Nevertheless, the stock is facing significant long-term resistance at Rs 270.

The stock's long and medium-term trends are down. A strong breakthrough of Rs 270 will push the stock higher to Rs 300 and then to Rs 320 in the forthcoming weeks. Important resistances above Rs 320 are at Rs 350 and Rs 368. A strong move above Rs 368 will alter the stock's medium-term downtrend and push it higher to Rs 400 and to Rs 450. Conclusive weekly close above Rs 520 is needed to change the stock's long-term outlook to positive.

On the downside, a fall below Rs 222 will reinforce the stock's downtrend and pave the way for a decline to Rs 200 and then to Rs 186 in the medium-term.

Jubilant FoodWorks (Rs 1,240.7)

Jubilant FoodWorks has been on a long-term uptrend ever since its initial public offer in February 2010. The stock has been forming higher peaks and higher troughs since then. Last week, the stock zoomed 9 per cent with good volumes. Friday's 6 per cent surge accompanied by above-average volume was crucial for the stock as it broke out of a key resistance at Rs 1,200, which it was testing from April 2012. The stock is hovering well above its 21- and 50-day moving averages. Both the daily and weekly relative strength index are featuring in the bullish zone implying upward momentum. The stock can prolong its uptrend and encounter resistance at 1,300, a psychological resistance in the medium-term. Short-term supports are positioned at Rs 1,100 and Rs 1,000.

As long as the stock trades above Rs 950, its medium-term trend remains up. Next significant supports are pegged at Rs 830 and Rs 750. A decline below Rs 700 will be a threat to the stock's long-term uptrend.

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