Monthly charts represents series of data points where each data point is comprised of the price movement for a single month of trading.
This chart type has been used for a long time by traders and typically applicable for long-term trading.
Jet has taken a nose dive from the 883lvl of high since 01/2018.
On monthly chart it has broken all the major Fibonacci levels, still we can have a possible support and bounce from the 270lvl.
May Jet fly again :)
Look at NIFTY's monthly charts beautifully following the Pitch Fork. It looks like the index is peaking out by Jan 2018 - 10500 odd levels? ( Guj, Himachal elections, earnings degrowth) and might continue in a downward spiral for the next 10 months till the 2019 elections?
In case of a deep fall, then market might reach 9000 levels.
Expert opinions please??
It has been observed on monthly chart that the price action breaks above strong resistance zone and shall further move up as buyers are now in control.
Fundamentally, the company have recorded highest quarter sales, and also sustaining growth in net profit margins, which has boosted the momentum in the stock.
Long term view: