All airline stocks have good volume for past 10 days and testing resistance.
Today INDIGO had pretty good results but didnt go that high indicating something is stopping these stocks despite good volume.
Technically Jetairways is at resistance one can go short with strict SL because breaching SL will be upside price action to ATH.
Short at or below 590 with SL at 600 for T1 566 T2 542 T3 514.
It is also high beta so if nifty corrects this will fall rapidly.
Today INDIGO had pretty good results but didnt go that high indicating something is stopping these stocks despite good volume.
Technically Jetairways is at resistance one can go short with strict SL because breaching SL will be upside price action to ATH.
Short at or below 590 with SL at 600 for T1 566 T2 542 T3 514.
It is also high beta so if nifty corrects this will fall rapidly.
Trade closed: stop reached