AbhishekHSinghCMT
Short

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

NSE:JETAIRWAYS   JET AIRWAYS INDIA
670 19 15
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.

Or

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

Trading@529

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

Trading@495

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
India Regional Manager
http://in.tradingview.com
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India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ
Do you think that downleg will continue from tommorow as crude has rallied due to OPEC decision?
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@prab56, If it sustains below 390 then likely yes -down move will start.
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cut in fuel prices may impact?
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@samarcal123, These news effects are just temporary hiccups ultimately where market wants to move it will move
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Is this Trade position still valid?
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What Trade
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Taking Short Positions
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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?
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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.
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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.
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