Technical Call: Jubilant Pharmova – BUY

Long-term investors can buy the shares are Jubilant Pharmova (₹545.75) at current levels. The stock made a low of ₹268.60 in March and has risen well from there. It indicates that the downtrend has reversed. This rise from the above mentioned low has happened from a strong long-term trendline support. This also strengthens the case for a trend reversal. Immediate support is at ₹480. Below that ₹350-280 is a broad support zone. Looking at the big picture, Jubilant Pharmova share price can target ₹950-1,050 over the next one-two years. Investors with a minimum time-frame of one year can buy Jubilant Pharmova now. Accumulate on dips at ₹490. Keep a stop-loss at ₹285 initially. Trail the stop-loss up to ₹590 as soon as the stock moves up to ₹780. Move the stop-loss further up to ₹820 when the price touches ₹880. Exit the long positions at ₹950.