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SPICEJET

Spicejet: "Mera wala price" & "ab toh mujhe dekh le" levelsSpicejet CMP 78.70 So what is this "Mera wala price" (My price to buy) and "ab toh mujhe dekh le" levels (at least take a look at me now) No these are not levels which have come from my heart. But what I see as charts trying to tell us. Let us see what are these terminologies with the help of Spicejet Observations: - Spicejet is currently trading between 20 day EMA and 50 day EMA ( which signifies lack of momentum ) - trendline support is around the yellow line - the orange dotted line suggests previous support zone is acting as resistance around 83-84 odd levels As a student of Technical Analysis, I would ideally like to wait for Spicejet to come near 68 odd levels or near the yellow trend line and if I see price being held on to, then I would like to go long. Near that price, my risk would be minimum and reward potential would be much higher. This would be for target of 96 / 108 & SL around 63 / 58 depending on the risk appetite. Hence I call that as "Mera wala price" where the risk and reward ratio is in my favor. However, in case Spicejet doesn't fall and starts moving higher, crosses and sustains above the orange line, that would suggest that the chart is indicating the stock is ready to climb higher - are you going to board the journey now? Okay, I missed buying opportunity around 78 thinking it may fall towards 68. But that has not happened and now I have to make a decision where again charts are indicating change in underlying conditions. In this case, breakout above 84 can bring some kind of momentum. And hence I term that as "Ab toh mujhe dekh le" levels which literally means At least take a look at me now, I may not fall, forget about 68 odd levels and buy me for a breakout play... (this would be for momentum play with short term targets of 89 / 93) & may be SL can be kept at 81 odd levels or at 20 day EMA at current price, with the stock trading between 20 day & 50 day EMA there is no clarity of direction - However around 68 there is trendline support and - above 84 there is a breakout trade possibility both these scenarios could have a stronger probability of success than random buy decision. So till the time you don't see -the Mera wala price or - ab toh mujhe kharid le levels, keep patience...🙂 Like & Follow But don't just follow me blindly Learn to identify such opportunities independently
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by indiamarketoutlook
#SPICEJET .. Consolidation is happening.. Buy opportunity soonAll analysis is presented on charts. Added to watchlist. To understand higher timeframe structure you can see below Currently stock is consolidating as can be seen on the chart. The buy opportunity will present after strong bullish closing above 84 levels with good volumes. Due to the monthly trend line i think tgts of 90 are more likely. At least price is going to stall there for a bit. If a breakout from the higher TF Sym Triangle happens then that can be hugely bullish depending on closing and volumes. PS- Thank you @Averoy_Apoorv_Analysis for sharing this idea. I always like your content. PPS- Link to the original idea is in the links below. Please refer to Apoorv's video for an exceptionally detailed explanation of what is going on here. I have tried to only build upon what Apoorv originally presented.
SLong
by Munchkunster
WEAK FUNDAMENTALS vs BULLISH TECHNICALSNEWS: SpiceJet NSE -1.41 %, has reported a net loss of Rs 998.3 crore for 2020-21 fiscal, has announced to raise Rs 2,500 crore to fund its working capital requirements. BUT the chart looks superb. Volume Increase, 20 DAY cross over and a BO near the consolidation. Looks like a winning trade as Analysts are hopeful of a turnaround as travel resumes across the country. If you are trading watch out for the Stop loss CHART STUDY - not a call
SLong
by Artofchart
Nifty Outlook for Thursday, 13th August | 50x InvestmentsNifty - 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 ended up today after Russia announced progress on a COVID vaccine. IndiGo ended over 10%, Spice Jet over 6%, Indian Hotels 4.61% and EI Hotels almost 2% higher. Nifty PSU Bank index and Nifty Media index were the biggest gainers today and ended 2.7% and 2.37% in the green respectively. Nifty Pharma was the biggest loser today, ending 1.55% in the red. Gold continued to slip and has now fallen around 7% in the last 5 days. Nifty - Outlook for Thursday, 13th August: There is no clear direction as to where Nifty might head in the short term. More details from Russia and WHO regarding the vaccine might give a direction to markets. The fall in precious metal prices is an indication that an influx into equity might be occurring soon. This is a positive sign for markets. This coupled with the fact that the USD is expected to weaken puts India in a good position to receive FII investments.
NSE:NIFTY
by Algokart
2
Spicejet: A Long term Investment bet...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 crude prices if stays at lower levels in medium term then it can be a beneficial for airline industry on the whole. The current levels provides good risk:reward ratio to go long in the stock from long term perspective. Take care Happy & safe investing...!!!
BSE:SPICEJETLong
by indiamarketoutlook