This idea is to demonstrate the network of parallel lines observed on Jetairways.
Long My Side Close Above .50 % Fibbo rec... Support 0.618 wait 4 ---.50% Above Close Then Buy
Jet Airways had taking off from its runway and soon will fly. It had given the trendline breakout after getting bounced back from 50 day moving average. Currently trading at 479 but can go to 490 and then 500 in next 7-10 days. Lets watch the move.
Price seems to have found nice support near 370-380 zones on the weekly charts. Last week's rise seems to be an indication of buying interest at support. Once the levels of 430 is crossed on the charts, a short term move to 480-500 seems possible. Will consider for Long next week on a small retracement. SL below low of last week is a bit steep for my liking....
Here, i have identified a potential long setup in JetAirways. It's a short-term positional trade. CMP - 378 Date - 6 Feb 2016 I have written notes on chart to help you trade. Thanks. Will be updating you. Regards.
Although the stock is in down trend and even in the bull market it is making lower low but a short term long trade is possible on the basis of today's Bar which offers good risk to reward ratio. One can buy the stock for a target of 400-410 providing the stop loss of low of today on closing basis.
NSE:JETAIRWAYS major double top + trendline break What to do ? Short - when the 15 min candle high is below the red line Target ? Blue line
Failing to cross 423, Jet should resume downward leg
NSE:JETAIRWAYS see what happpens when the stock touches these lines and how it behaves in these zones. and then trade accordingly. Cheers !