The Indian stock market, including both the BSE and NSE, will be closed on Friday, March 14, in observance of the Holi festival. Investors, in addition to celebrating the festival, will also benefit from an extended long weekend as the holiday falls on a Friday.
Typically, during long weekends and festive seasons, people tend to increase spending on leisure activities such as dining out, shopping, and entertainment. As a result, restaurants and food joints often see a significant rise in foot traffic. This Holi weekend in 2025 is expected to follow a similar pattern, potentially benefiting restaurant-related stocks.
Here’s a technical analysis of some major restaurant-related stocks listed on the BSE and NSE:
1. Jubilant Foodworks (Current Price: Rs 609)
Upside Potential: 26.4%
Support Levels: Rs 580, Rs 571
Resistance Levels: Rs 635, Rs 650, Rs 680, Rs 730
Jubilant Foodworks is approaching a key long-term support level at Rs 580, with further support at Rs 571. Despite a weak short-term trend, the stock has maintained an upward trajectory over the long term, with higher highs and higher lows. If it respects the support zone, it could potentially rebound, with an upside target near Rs 770. Key resistance levels are seen at Rs 635, Rs 650, Rs 680, and Rs 730.
2. Westlife Foodworld (Current Price: Rs 683)
Upside Potential: 15.7%
Support Level: Rs 668
Resistance Levels: Rs 713, Rs 750, Rs 760
Westlife Foodworld is currently testing a key support level at Rs 668, aligned with the stock’s super trend line. The outlook remains cautiously optimistic as long as the stock remains above this level. For a potential rally to Rs 790, the stock needs to trade above Rs 713 consistently. Resistance can be expected at Rs 750 and Rs 760.
3. Sapphire Foods India (Current Price: Rs 305)
Upside Potential: 14.8%
Support Levels: Rs 299, Rs 275
Resistance Levels: Rs 322, Rs 337
Sapphire Foods has shown consistent support at its 100-week moving average (WMA) at Rs 299. This makes Rs 299 a crucial support level, with additional support at Rs 275. For the stock to regain upward momentum, it must break and sustain above Rs 322, after which it could rally towards Rs 350, encountering resistance at Rs 337 along the way.
4. Devyani International (Current Price: Rs 154)
Downside Risk: 9.7%
Support Levels: Rs 151, Rs 146
Resistance Levels: Rs 160, Rs 166
Devyani International is approaching a potential downside breakout. A close below Rs 157 would confirm the bearish trend, with the stock likely to extend its decline towards Rs 139. Immediate support levels are at Rs 151 and Rs 146. On the upside, resistance is expected at Rs 160 and Rs 166.
5. Restaurant Brands Asia (RBA) (Current Price: Rs 61.70)
Downside Risk: 18.5%
Support Level: Rs 56.90
Resistance Levels: Rs 64.70, Rs 66.30, Rs 68.60
RBA stock is showing a bearish trend, consistently making lower highs and lower lows since the breakdown in late October 2024. The near-term outlook remains negative unless the stock rises above Rs 64.20. Immediate resistance is at Rs 64.70, Rs 66.30, and Rs 68.60. At present, the stock is at record low levels and could potentially fall further to Rs 50.30, with support near Rs 56.90.
As Holi approaches, it is important for investors to monitor these stocks, as the festival could provide an opportunity for growth in restaurant-related sectors, while also presenting some risks in the market.
Related topic:
- Asian Restaurant Brings Malatang Trend to Dallas
- Caprinos Pizza Opens New Branch in Wymondham
- Oakville Pizza Closes After Over Two Decades of Service
