Dragonchaya

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NSE:JETAIRWAYS   JET AIRWAYS INDIA
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Comment: Entered the red zone
Comment: crossed red zone

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They have dropped strong , so i dont think they will reboot up now , they may likely enter in side ways before heading for one more drop ,
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so If it enter in red strip which means there will be much more selling pressure?
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Pranabkolkatay Vivek09rajput
@Vivek09rajput, Very good question. I also wish to learn the answer from the author. My observation is that the red line is some kind of 'No trade zone'. Looking at 2016 and 2017 chart pattern I find after (or nearer) to 'red strip - landing', there were upward swings and this time from 512 there might be an upward journey towards the level of say 600-620 level (R1).
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Dragonchaya Pranabkolkatay
@Pranabkolkatay, Thanks for Question. Red band is some kind of magical band if you see the past, A perfect example of SR flip. It changes every time. I feel that Price will enter Red zone as you said "No trade Zone". It may bounce back and making it support or it may break and make it resistance ( that time will tell what ever happens). I went deep into red zone and found that somewhere between it may stop falling ( TEMPORARY ONLY). So its on my watch list now @Vivek09rajput @MoneyRain .... for more join my group in telegram t.me/Chartdontlie
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Pranabkolkatay Dragonchaya
@Dragonchaya, Thank you
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I-Fund-Trader Dragonchaya
@Dragonchaya, Chayaa , i just dont want to comment on your analysis , May be you are right on your understanding , but if you track the real time this scrip started falling was never making a good pull back , that it self was indicating the issues in Fundamental , or Institutional are stepping out form Investments , any stock that drops , usually make a comfort level of pull back , but it was not making it , and finally after dropping so much the News came in as UAE Based investor is stepping out and they have got the permission to start their own airlines in India , and then it did not stop further dropping ,
I am expecting this will make to near 250/290 Range in very near time
Regards
Karthik
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