Technical Analysis

Jubilant Life Sciences (₹784.5): Buy

Gurumurthy K BL Research Bureau | Updated on February 28, 2019 Published on March 01, 2019

The outlook for the stock of Jubilant Life Sciences is bullish. The stock rose over 2 per cent on Thursday breaking above a key resistance level of ₹770. This resistance level has been capping the upside since December 2018. The level of ₹770 will now act as a good support for the stock. Intermediate dips to this support level are likely to find fresh buyers coming into the market. A rally to ₹825 is likely in the coming days. Inability to breach ₹825 can trigger a corrective fall to ₹780 or even lower levels. But a strong break above ₹825 will increase the likelihood of the upmove extending to ₹875 and ₹900 levels over the medium-term.

Traders can go long at current levels and also accumulate on dips at ₹775. Stop-loss can be placed at ₹755 for the target of ₹845. Revise the stop-loss higher to ₹805 as soon as the stock moves up to ₹815. The bullish outlook will get negated only if the stock declines decisively below ₹770 again. The next targets are ₹735 and ₹715. However, such a strong fall breaking below ₹770 looks unlikely at the moment.

(Note: The recommendations are based on technical analysis. There is a risk of loss in trading.)

Published on March 01, 2019

A letter from the Editor


Dear Readers,

The coronavirus crisis has changed the world completely in the last few months. All of us have been locked into our homes, economic activity has come to a near standstill. Everyone has been impacted.

Including your favourite business and financial newspaper. Our printing and distribution chains have been severely disrupted across the country, leaving readers without access to newspapers. Newspaper delivery agents have also been unable to service their customers because of multiple restrictions.

In these difficult times, we, at BusinessLine have been working continuously every day so that you are informed about all the developments – whether on the pandemic, on policy responses, or the impact on the world of business and finance. Our team has been working round the clock to keep track of developments so that you – the reader – gets accurate information and actionable insights so that you can protect your jobs, businesses, finances and investments.

We are trying our best to ensure the newspaper reaches your hands every day. We have also ensured that even if your paper is not delivered, you can access BusinessLine in the e-paper format – just as it appears in print. Our website and apps too, are updated every minute, so that you can access the information you want anywhere, anytime.

But all this comes at a heavy cost. As you are aware, the lockdowns have wiped out almost all our entire revenue stream. Sustaining our quality journalism has become extremely challenging. That we have managed so far is thanks to your support. I thank all our subscribers – print and digital – for your support.

I appeal to all or readers to help us navigate these challenging times and help sustain one of the truly independent and credible voices in the world of Indian journalism. Doing so is easy. You can help us enormously simply by subscribing to our digital or e-paper editions. We offer several affordable subscription plans for our website, which includes Portfolio, our investment advisory section that offers rich investment advice from our highly qualified, in-house Research Bureau, the only such team in the Indian newspaper industry.

A little help from you can make a huge difference to the cause of quality journalism!

Sincerely,

Support Quality Journalism
This article is closed for comments.
Please Email the Editor
You have read 1 out of 3 free articles for this week. For full access, please subscribe and get unlimited access to all sections.