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Intraday Stock Trading For 1 July 2011: Sell JUBLFOOD At 872, Target 851

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Stock for intraday trading: Sell JUBLFOOD @ 872 for target 861 and 851 place protective stop loss at 880 At CMP of 873 it is trading negative by more than 8%, but we are expecting further sell off the stock has entered the bubble and in terms of valuation it is very expensive stock, so trend is more likely to be bearish today, So it seems to attract more sellers on every up move in this stock. The volume is also very high with The selling. Technical indicators suggest the possible downside momentum and is in favor of trade, stock JUBLFOOD. Investors must stay away from this stock. However traders can play by shorting JUBLFOOD (Jubliant Foodworks Ltd.) stock.

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About Bhaveek Patel

Bhaveek Patel is technical analyst and investor, his areas of interest includes stock market, forex and gold.

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