In short term chart- there is a 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.
5 Rs down -Moving in desired direction if goes below double bottom 54-55 then it will go deep down.