Go long in Jubilant Foodworks: Aditya Agarwal

Aditya Agarwal of Way2Wealth.com told CNBC-TV18, "Jubilant Foodworks has seen a one side correction and we have not seen any major bounce back in the counter. On the lower side, Rs 1,000 and Rs 1,005 is a very crucial support level. From those levels this stock has seen a good bounce back multiple times. From lower levels today we have seen a short covering in this counter."

"We are expecting that this short covering may extend the rally and on higher side, this stock may test Rs 1,070 levels. So from these levels, the risk reward ratio is in favour of buyers. At current levels one can go long keeping a stoploss of Rs 1,005 and on the higher side one can expect target of Rs 1,070 to Rs 1,080 in next few trading sessions," he said.

Disclosure: He has advised the stocks to his clients, so they maybe having some position but personally he does not hold any positions.