After travel stocks started running and amid vaccie hopes spice jet is also in a good rally and they have also announced about help and contrbution in vaccine distribution
Levels as mentioned by chart !!
This is the chart I drew on 12-11-2020 and as shown with perfect technical research the stock yesterday touched the resistance line and there is huge selling pressure at Rs 79 and today it raised but with more pressure, a red candle is formed.
Nifty - Technical Analysis:
Nifty had a gap-down opening today but tried to fill the gap through the course of the day. The intraday trend was bullish.
Nifty once again took support around the 11240 levels but there is no clear momentum direction yet as indicated by the ADX indicating a week 14.61.
Market - Driving Factors:
Travel and Tourism stocks...
Spicejet is at a level which historically has acted either as a strong resistance or strong support.
If the level is held then Spicejet has a strong possibility of jumping back to 95 / 102 odd levels.
On a fundamental note
- Corona virus fears have let to many flight cancellations
so in the short term, things could be difficult
- but recent price drop in...
In the short term the stock has the potential to move towards 95 /102 levels.
In medium term there is a risk of stock seeing levels of even 60-65
However In the longer term , if level of 58 is protected, the stock can once again fly higher towards 160 / 220 levels
Plan your trade accordingly...
Take care & safe trading...!!!
Hello Guys, I'm looking at all indian aviation stocks, all are pointing towards downward movement, this is a weekly chart so look for sells on lower timeframe. after that downward move there will be pretty good spot to put your money in these stocks.
...I saw ur face
in a crowded place....
One of my personal favorites from long term investment point of view
Even from Fundamental perspective the stock has a great story...
- Railway tickets are getting costlier
- Fuel cost is under control
That augurs well for the airline sector and Spicejet has positioned itself well to take advantage of the current...