AbhishekHSinghCMT

SpiceJet- Into 2017- Double Bottom Break & E-Wave into 25-40

Short
AbhishekHSinghCMT Updated   
BSE:SPICEJET   SPICEJET LTD
4
Since Sep2005 highs@115- SpiceJet has been moving sideways between upper boundary 100-115 to between 10-15 as lower boundary.

In short term chart- there is a double bottom of the zone 54-55 zone, which is yet to finish its larger E-wave & biggest opportunity of the decade could be knocking your doors in June -July 2017 in the zone where E-wave completes 61.8% of C-wave & at 26 -it completes 78.6% which could be the zone-I shall be looking to add Spicejet in my portfolio.

Short Term Opportunity-
Sell below 54-55 for target zone 40-45

Long term Opportunity
Buying in the zone 25-40 -which I will come back again once Spicejet reaches that zone.
Trade active: 14:35 Hrs 10th Dec2016

Last Price@60

5 Rs down -Moving in desired direction if goes below double bottom 54-55 then it will go deep down.
Trade active: 14:12 Hrs 27th Dec2016

Day's Low@55.50

On the neck


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

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