SpiceJet 2016 Diary- Critical Zone 54-55 Playing Major Role

Jan 2, 2017

When Spotted last at 65-67 in Year 2016- Updated that 54-55 is the key & a critical zone for the Spicejet-if gets broken, then It shall move in next leg down to complete the E-wave.

Critical Zone acted as support recently & it turns from recent low of 55.50 to current levels of 58- this stock is trapped- likely has great chances of moving down in the months ahead so let us hold.

This is how we moved in 2016

In below shown chart- click the chart & use load bar feature

Jan 10, 2017

Trade active

11:25 Hrs 10th Jan2016

Last Price64

Jumped from 54-55 -short term.

Jan 18, 2017

Trade active

08:12 Hrs 18th Jan2017

Last Price@65

Moving above 67- likely it heads to 70-71 zone where it faces resistance from falling trendline

Jan 22, 2017

Trade active

12:08 Hrs 22nd Jan2017

Last Price@63.80

As if now, 67 has acted resistance to recent upside move from 54-55 zone.

Feb 15, 2017

Trade active

11:27 Hrs 15th Feb2017

Last Price59

Look how 67 acted as resistance