The pair has plunged after the Australian CPI data.
Now, it has formed an inverse head and shoulder pattern in the 15-min chart.
Also, the RSI indicator has backed up the bullish reversal formation with an inverse head and shoulder pattern of its own.
Hence, we expect the pair to pullback from the lows to the resistance of 78.870.
NSE:JETAIRWAYS has corrected nicely recently falling from the levels of 590 to sub480.
Jet airways seems to be respecting the support trend line. Stock made a dogi to signal the time for reversal. RSI of stock also suggest oversold stock.
Buy Jey above 490 (aggressive buys can buy above 484 with high risk)
Target - 530 / 540 / 580
SL - 470
Buying kotak bank because of price is at rsi oversold area on daily chart and strong bullish candlestick marubozu type formation with good volume,weekly chart is also at rsi support zone and target is based on Fibonacci
Stoploss - 690
Target 1 - 747.45
Target 2 - 781.31
BankNifty is moving in the down sloping channel. RSI is coming out of Oversold area so it may try to touch the other side of it or at least the touch on trend line is possible. One can enter long at this level.
It was interesting fall from 796 to 440 and now made 52 Week low at 336. And finally last week RSI reached 25 levels. So its a clear buy with initial target of 380 sustaining above this level can take further upside. Keep the stop loss below the recent low of 336.