Finally Today Jet Airways landed @449- vow -completed its 5 wave sequence. Let Jet Airways Take off in a retracement to the leg, which started from 560's highs which was an e - wave of the X-triangle. We shall look for retracement 50%, which comes to 505 & 61.8%, which comes to 518-520 zone.
Larger Picture -A Triangle in Jet Airways-- we are travelling in y-wave as larger picture
Bigger View of the last leg in above mentioned triangle (looking for 507-515 trendline to break)
Leaks from the triangle on account of surgical strike
Magical Trendline-did not allow Jet to fly upside
Trade active
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12:15 Hrs 14th Oct2016
Trading@451
Jet trying to put the gear back- guys keep a watch
Jet looks to fly -we will buy in a retracement of the current rally.
Trade active
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12:40 Hrs 14th Oct2016
Trading@460
Vow it looks so beautiful
Trade active
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13:30 Hrs 18th Oct2016 Trading@461
Critical Low@443- Bullish Engulfing Pattern right at the bottom good sign for reversal. Any retracement should be looked for bullish opportunities till 500-505 zones
Comments
mragarwal
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mast analysis
gvk952
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it holds 450 it seems, good to buy ?
WaveTalks
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Yes, jet looking for the reverse. Likely we will buy in retracement.
Shreeux
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SL, TODAY LOW?
WaveTalks
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Yaa, likely but need to monitor the price to see what kind of retracement happens - INFY was bad experience- up down up all gone. Jet should retrace till 505 & 518-520 zone -let us see what happens next.
dev_trader
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Hi Abhishek, so far so good on levels. Are we still looking to be onboard @505 levels?
WaveTalks
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Now we hold this trade with 450-452 as crucial swing support - as it has done 38.2% retracement- need to check- still shall be hoping for 50% to 61.8% retracement but with strict support zone 450-452
dev_trader
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Great ! Thanks Abhishek for your suggestion. Appreciate it.
NeeteshJain
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Abhishek Bro, I believe it shall move further down, it is making new lower lows. Trade with cautious. Regards
WaveTalks
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No, I never said we will go long- are you ready for take off- we will start planning to buy asap as we get price confirmation- after price is my god, either-way we have already got 2 big moves -from 515 to 455 & below 486 to 450.