AbhishekHSinghCMT

Jet Airways- Can Box show us the next- Below 400

Short
AbhishekHSinghCMT Updated   
NSE:JETAIRWAYS   JET AIRWAYS INDIA
6
Box has 3 legs - shown as green arrow upside- red arrow downside & pink arrow upside again to recent high@418.35

Trading Strategy
We will look for a bounce close to or in the zone 410-415 -likely in the zone shall be preferred more as our risk element becomes very less -if you see it fails to take out 418.35 recent high & starts falling back below 410 marks that could be a sign of reversal- here risky traders could also enter close to 418.35 highs-should not be taken out on top or stoploss@418.35+ can look for a downside move.

Monthly chart- Bigger Triangle (Interesting Half of Year 2017)

Flight 507515 - to land in the zone 240-250
Trade active:
10:48 Hrs 24th Jan2017

Last price@403.60

Either bounce close to 418 in the zone 410-415 & fails to take out 418 -dropping below 410 should be sell signal or going below 398 & sustains down could be sell signal.
Trade active:
14:10 Hrs 25th Jan2017

Last price@412.55

Bounced from 403 lows, keeping 398 intact.

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

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