JetAirways- Leaks from Triangle- Resistance@503

Key Resistance -503

Post leaking from the Triangle, Jet Airways made a low@453 & retraced deep to current high@503 which is 61.8% ii-iii wave distance. Candle shows rejection in the zone 500-503.

Likely we will continue in the final leg, possibly below 453- which will be confirmed once it starts moving below 486 -which could be a possible hurdle in the fall.

Trading Strategy

Risky Call- One can take this call taking 503+ few ticks above as stop - If prices go close to that level or wait for prices to fall below 486. The fall could take few days to complete or may be it happens at once.

Regards,
Abhishek H. Singh, CMT

Previous Report - Look for Trendline Break 507-515

Trade active:

12:40 Hrs 4th Oct2016

Trading@487.60

Jet AIrways is doing its job silently - Going Down

Trade active:

13:45 Hrs 4th Oct2016

Perfect Landing at 486.75 low for today's session- Going Below 486 will continue downside.