raghavendrakumart

Spice jet - struggle with trendlines. Aggressive buy.

Long
BSE:SPICEJET   SPICEJET LTD
5
Price is struggling with multiple trendlines .
Last price action is encouraging with a faster retracement of the last fall.

Major breakout above 71-72 levels.

Sequence of supports from 65 - 58 ad 54.
Trade active: Price is in a 3rd wave of some degree. Historically price rises sharply when it rallies.
Trade active: Price breaks out and sustaining. Expecting more upsides. 3rd of some degree is un-folding and rewarding.
Trade active: A breakout and a consolidation. Holding 68 levels , next leg of the rise should take prices to higher levels.
Trade active: The ride continues with price now at 93. Major breakout materialising.