Weekly Recommendation - Short Jubilant Foodworks Ltd For Target Rs. 2580 - ICICI Direct
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Rationale
After rallying sharply towards its highest Call base of 3000, Jubilant foodworks witnessed some profit booking as Nifty reverted from higher levels. For the January series, major Call OI concentration is placed in 2800 strike followed by 3000 whereas for the Feb series as well OTM Call writing is visible whereas no major Put OI blocks are seen. We feel profit booking may extend in the stock in the expiry week and stock can slip towards 2600 levels on downside.
Short Jubilant Foodworks (JUBFOO) January future in range of Rs. 2780-2800; Target: Rs. 2580; Stop Loss: Rs. 2901
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