It’s any flyer’s biggest fear - some are more nervous about plane crashes than others but even the most assured passenger would lose their cool if the aircraft was about to crash.
But simple channel drawn across with some adjustments would have indicated you that plane is about to crash at 1520 highs- which came as no surprise to me & all airline stocks (Spice Jet, Jet Airways etc) got the hit similar to pharma stocks which was updated in Auropharma@895 as an example on 20th Oct 2016.
Fall from 1520 highs looks impulsive in nature & we are dangerously placed at 1277- current highs- if in coming days 1000 -crucial level is taken out -results could be more devastating & target for 795 -815 zone & even lower so zone 790-815 could form support next -if any relief is to provided in next few months below 1000 level. Going below 790 - Only God - Can help
Benjamin Franklin is generally held to have popularized this motto in his Poor Richard’s Almanac 1733- “God helps them that help themselves,”
Last Indigo Idea
3% Down for the day.
Flight Issues - How much will it be down today - SGX Nifty 74 Points down. Best of Luck
Manage your risk & trade carefully. Shall be closing the update.
Abhishek H. Singh, CMT
Growth Director - TradingView India
YouTube Channel https://www.youtube.com/channel/UCYcnYveYBNLD-Qp54hvZogw