Sell Jubilant Foodworks: Arunesh Madan

Sell Jubilant Foodworks, says Arunesh Madan, Founder and Director of Augment Investment.

Madan told CNBC-TV18, "I have a sell call on Jubilant Foodworks, as I believe that the daily candlestick charts indicate a short term peak has been formed. This couple with negative divergence on the RSI indicator, indicate that the stock is going to touch lower levels in coming days. Look to short this stock on a pullback to Rs 960-965, stop loss above Rs 990 and target of Rs 900."