Contra Trade Idea: Jubiliant Foodworks
In all parameters, 
JUBLFOOD is in downtrend. However, one contra trade is looking for risk-worthy due to:
1. A (almost) Marubozu candle formation after a prolonged downtrend in daily chart.
2. Accorded by RSI +ve divergence
3. Per Ichimoku strategy:
a. Price is crossing the T (Tenkan) line
b. K (Kijun) line is becoming flat, means going to attract price towards it. It is placed at 513
c. Chilu Span is showing an uptick
Cash: BUY after 500 with SL of 490 for a target of 510/514.
Alternatively: BUY 500 Jan-25 Call Option at 7-9 for a target of 15/20, SL: 5.
If price moves above 15, one can carry it for 20 with a TSL of 14.50.
JUBLFOOD is in downtrend. However, one contra trade is looking for risk-worthy due to:1. A (almost) Marubozu candle formation after a prolonged downtrend in daily chart.
2. Accorded by RSI +ve divergence
3. Per Ichimoku strategy:
a. Price is crossing the T (Tenkan) line
b. K (Kijun) line is becoming flat, means going to attract price towards it. It is placed at 513
c. Chilu Span is showing an uptick
Cash: BUY after 500 with SL of 490 for a target of 510/514.
Alternatively: BUY 500 Jan-25 Call Option at 7-9 for a target of 15/20, SL: 5.
If price moves above 15, one can carry it for 20 with a TSL of 14.50.
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