RyanVarghese
Long

LONG JET AIRWAYS

NSE:JETAIRWAYS   JET AIRWAYS INDIA
So, the price respected golden ratio at 61.8 fibs of its recent impulse from low 160 s to 360s. The correction was respected at 240. Try to draw a fib on weekly / daily to get an idea of it.

Today, the stock jumped 16% on the news that Naresh Goyal is liquidating his holding (major shareholder). Why ? to give the money back to the lenders as a part of the revival plan for the dilapidated airline. TATA is backing them up (not clear but a rumor). Whatever it is, the news that Naresh Goyal is stepping down as a major shareholder was enough for the stock to jump as it was in a very much decisive state by looking at the price action.
The real question is now? Would you Long it? you got to have balls/courage to step into this.

The reward would be 5:1. Long from 275 / current price.. target for June 2019 : 550. S/l: up to your risk ability (i would prefer sub 250)

Take risk because you won't be rewarded for not taking a position. better to go with holding physical stock because they gonna split in the coming months to raise more cap from the market to compete with its peer #INTERGLOBE AVIATION. Value Value VAlue !!!.. worth being wrong here. That's how you blend Fundamentals with technicals.

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