Jet Airways -Going Below 515 & 507- Down leg to Start

Always be careful of the levels mentioned.

It's the final leg (E) which is unfolding as per larger picture & previous update in Jet Airways.

In the short term, there too is a triangle in X-Wave .

Trading Strategy
Either I will take short when prices come & touch the (a) -(c) trendline in the x - wave triangle which comes in the zone 590-600 Keeping in mind c-wave high@626 should not be broken on top & also first I will see whether (a) -(c) trendline is offering resistance or not & then likely I will take short with key & critical resistance at 626- going above that shall negate whole structure.


Going below 507 - surely there will be selling pressure & likely we will see 240-260 zone in coming months

Trade active: 13:21 Hrs 28th Sep2016


Jet Airways Landed on Trendline Yesterday -Made Day's low@524- Vow
One should use these small things to get small movements for the day. "Chote packet mein bada maza".
Trade active: 13:40 Hrs 29th Sep2016


Jet crashed - oh it broke the trendline & made day's low@475.
Trade active: 15:23 Hrs 29th Sep2016

Trading at 455

Jet Airways crash..crash..crash
Trade active: 16:42 Hrs 4th Nov2016

Last Price@436

Trade active: 18:24 Hrs 15th Nov2016

Last Price@372

So pleasing to the eye
Trade active: 08:09 Hrs 16th Nov2016

Last price@372

Likely we will wait to see the bounce due to green global indices.
Trade active: 08:45 Hrs 1st Dec2016

Last Price@397

Going below 393- likely we get 385-387 as the short term target & going above 404-405 we shall look for 410-412 & if sustains above 412 then 418-420

Our key level is 443 - likely keeping wave -2 in two places as it is a case of doubt- which I shall place it later looking at market actions later.

Trade active: 17:22 Hrs 3rd Dec2016

Last Price@376

Going below 393 - we got the target of 385-387 & got extended as well.

Best Regards,
Abhishek H. Singh, CMT
​Growth Director - TradingView India

YouTube Channel https://www.youtube.com/channel/UCYcnYveYBNLD-Qp54hvZogw

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Do you think that downleg will continue from tommorow as crude has rallied due to OPEC decision?
@prab56, If it sustains below 390 then likely yes -down move will start.
cut in fuel prices may impact?
@samarcal123, These news effects are just temporary hiccups ultimately where market wants to move it will move
Is this Trade position still valid?
What Trade
Taking Short Positions
mkithan AbhishekHSinghCMT
Yes...Is the case getting stronger for a 240-260 zone in coming months or can we expect a bounce from the current levels?
I said -financial markets will never move in a straight line -up or down -it will move & make you lose your positions in every situation. On larger ground - we had that opportunity at the bounce back close to 500(which it did till 488)- expected 500-505 or break of trendline 507--515. In the current situation, it looks like a short term bounce can be expected, so we have key level 488 in the present situation.
So- even though it looks downside 230-240 as expected in larger update- It will become risky- if sellers ask to sell when the instrument is falling. Selling should be taken at every rise not in falling markets.