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
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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
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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.
Comments
SatishBoda
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Hi Abhi. Can I paraphrase for my better understanding. So the call on this stock is to go Long. Buy above 370 for a tgt of 386, 390, 400. Is my understanding correct ?
WaveTalks
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@SatishBoda, Yes -if you are risk taker then can look to buy at current levels as well but we don't have any stops as this is counter trend moves which is very tough to trade. Likely I want to sell on top -that is my safe strategy
@AbhishekHSinghCMT, Jet Airways, you have mention Trade active: 11:01 Hrs 15th Feb2017
WaveTalks
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@AMBRISH, Why are you getting confused Trade Active -means Post Active - Did you read my last update@20:25 Hrs @14th feb2017 completely
AMBRISH
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@AbhishekHSinghCMT, Thanks for prompt response, your technical are excellent, but difficult to understand,
WaveTalks
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@AMBRISH, Yes, I always wait for confirmation - confirmation & safe trade was only above 370 as mentioned in the update@20:25 Hrs --14th Feb2017 --which it failed so likely it is risky to buy -hence I did not took long positions.
Kumaran1964
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ok sir thk u
WaveTalks
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@Kumaran1964, By the way your buying rate was 376 instead of 276 as you mentioned above.