AbhishekHSinghCMT

Jet Airways- Bang On Move- Trading The X-Wave to 367 from 381

Short
AbhishekHSinghCMT Updated   
NSE:JETAIRWAYS   JET AIRWAYS INDIA
10
Wow!- Amazing Week to start with another piece of stock which travelled in a choppy manner & looks to complete X-wave as expected from the tops@380-382 to desired zone of 365-368.

Here we will wait to see market reaction & then likely participate in the bounce Y-wave for which confirmation is still required.

As suggested in a previous update that if Jet Crosses 383 then we will think of buying else likely looks to dip in the zone 365-368

Today's Day low@366.50 kissed the zone mentioned in the last update- "Trading The Turbulence"

You would love to read previous updates as well


Bigger Triangle -Interesting Half of Year 2017

Had the flight 507515 landed- likely it should land in the zone 240-250's in coming days & months


Trade active: 20:25 Hrs 14th Feb2017

Closing Price@362.65

The fall from 383-384 to current lows @361.60 doesn't looks impulsive so likely it should push upside one more time possibily till 386-387 zone where the fall from 425 to 363.65 is retraced 38.2% that should be minimum target -next target zone 390-392 which is 50% retracement & extreme push upside to 400-402 where it will retrace 61.8%.
Better will be if it starts moving above 370 marks & sustains above.
Trade active: 11:01 Hrs 15th Feb2017

Last Price@357

Day's Low@355

This is the reason why I always stress for confirmation -safe push upside only above 370. Prices dipped even below 361 -which was previous session low.

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

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