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In hourly chart Spicejet has crossed 4/1 resistance at 79.50 which is now support and 3/1 angle resistance is at 88, which will be the short term target
If you say , candles dont work, start observing this from next week , only if it closes above 65 this week. if not, i will see this around 55-60 and will buy in truck loads.. are you bullish
This is for those who are stuck in this counter ...follow charts for averaging !!
The last support is at 68.65 and it is likely that tomorrow it will touch 78.60. Today or tomorrow, closing above 78.60 may bring some bullishness.
With Crude going down and Rupee getting stronger, Spice jet may move after 4 days of consolidation above 4/1 line.
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...!!!
Biased about this co because of what capacity expansion and because i hold this stock...
But this is a level what has me interested to add even more...not yet done so but will be doing it very soon.
+ive divergence, seems to be bouncing from a support. Lets see what the future now holds.
Definitely a buy on dips with a 2 year horizon.
Tomorrow Spicejet may rebound from 78
Resistance ahead at 85.50. If it crosses, next resistance will come around 101
Targets on the chart
Unless it immediately goes back to 98.50, the stock is likely to revisit 72.
A classical case of confluemce of horizontal multiyear support,and TL support is visible.Can we see a reversal from these levels?
A comparative stock performance weekly chart for Inddian listed aviation companies viz., Indigo, Jet an Spicejet.
As per discussion on
A perfect long setup exist in spicejet, as it is oversold and collapsing due to synthetic effect of indigo.
Support at 101, being the descending 1/2 line. Immediate target is 129. If the stock manages to close above 153 b y 26.07.2018, it will be out of any bearish shadow of previous high.
The stock is in consolidation, down move. With this news the stock may turn bullish and being in 20% circuit bracket, it is possible the stock may touch 150 in the next week.