I don't get why people still get into these stocks. On a long position, as long as the stock is hitting upper circuits it's all rainbows and sunshine. But look at that trap after a few UCs. A series of LCs where the person with the long position can't help losing his/her sleep.
Jet has an interesting pattern on the Weekly. There could be a corrective Up move now that its at its weekly low. Selling here doesnt have a good Risk/reward whereas buy looks promising, IF and ONLY IF we get a clear pattern indicating a break to the upside. Now, there is a possibility, but, how likely is the question. Gotta wait for more patterns to form and develop.
Discussed last week as to how jet might be in accumulation stage on a 10 year support level .
If the business is shut down ,why is it not going to zero ? High chances of a bounce back if in talks with other airlines , only time will tell .
Can go long above 150+ with stop loss of 120 and for targets of 200 .
TRADE NIVESH: Shares of Jet Airways NSE 10.34 % surged nearly 9 per cent in morning trade on Tuesday, snapping the losing streak of past three consecutive sessions, during which the stock had come off 41 per cent.
SWING TRADING SELL JETAIRWAY at 203 SL 248 TGT 117
NSE:JETAIRWAYS traded on NSE with 3 times its average trading volumes with Maribozu Bearish below ichimoku cloud. Wait for a bounce back to sell into JETAIRWAY.
PLEASE CONSULT YOUR FINANCIAL ADVISOR BEFORE INVESTING.
These are for study purpose and any live trade taken on this analysis will have to get...