#Spicejet long opportunity#Spicejet long opportunity
Target -83/102+
Sl-58.75
CMP:78.15 @16 November 2021
Timeframe : 2- 3 months
SPICEJET trade ideas
Spicejet - All set for huge upmoveIt's been trading in range since inception and now the range is only of 10 points, any move above 85 will trigger a huge upside in the stock.
On a smaller timeframe, any move above 76 will push it towards 82 and then 82 to 85 levels will be very crucial for the upside, One can initiate longs above 76 in smaller quantity and add more above 85 with SL of 65
Spice Jet After watching continuously the chart of spice jet..i feel that something is cooking in this stock..as you can see there are three instances of a shakeout.
A shakeout this frequent can give an idea of someone accumulating and kicking weak hands out at the same time.
i believe its a buy above 75.
for a target of at least 50%
spicejet on pivot of breakoutOn a weekly time frame moving in a symmetrical triangle pattern
on which a strong weekly/monthly trendline support just at below stop loss
now on a daily time frame, a parallel channel is formed which create double confirmation
setup is failure-proof as two bullish patterns are formed along with different time frame
entry - 69
target - 77 , 80, 90, 100
Spice jet-Symetric triangleSpice jet constantly hitting resistance and taking long term support.
Now its approaching symetric triangle breakout daily,weekly & monthly timeframes
Spice Jet-Approaching BreakoutSpice jet constantly hitting resistance & taking support on monthly timframe.
Ow it approaching symmetric triangle in Day,weekly & monthly time frame.
SPICEJET | Triangle Bullish BO{{Trade Setup}} : A Weekly symmetrical triangle is observed forming since Dec'20. Price breakout was printed on 13th Sep'21 supported by breakout volumes. After breakout & retest, price is sustaining outside the triangle range.
{{Targets /SL}} : A safe entry can be initiated above 82.65. Targets are set as the triangle pattern height at 118. SL will be a weekly closing below 60.
Note : Please take trades after making your own analysis. This chart is a showcase of my analysis alone, & the trade mentioned is one I'll be taking based on my convictions. This is NOT a trade recommendation.
long T1 -75,T2 81long T1 -75,T2 81
Short term entry in Spice jet , Once it cross trend line we can see breakout
Spicejet trendline breakout and re testSpicejet trendline breakout and re test good for positional by prajapati9951
spicejet on weekly chart .keep an eye on Spicejet , its kissed nearly on breakout trendline , will boom if crossed but couldn't sustained further movt, IN upcoming WEEKS do include in watchlist .
SPICEJET: 7 Month BreakoutSpicejet has given a strong breakout after 7 Month price following Symmetrical Pattern.
Expecting Targets hitting levels of 83, 94, 108, 120, 140.
Stop Loss can be around 65
This analysis is only for educational purposes and is NOT a Buy/Sell Recommendation.
Keep Trading Folks!
Nifty will be soon at 20,000
Swing Opportunity in Spice JetGo Long above 74.25 for Targets of 79.5, 84.75, 90, and 95.25 with SL 69
Reasons to go Long :
1. On a daily timeframe if we draw the Fibonacci retracement tool from recent swing low (point A) to recent swing high (point B) then we see stock took support from 0.618 Fibonacci level.
2. A bullish chart pattern, Double Bottom (W pattern) is formed around 0.618 Fibonacci level.
3. Also there is a Trendline (marked with green color), which is providing strong support to the stock.
Go long SpiceJet is principally engaged in the business of providing air transport services for the carriage of passengers and cargo.
SPICEJET Ready to Take OffSPICEJET Ready to Take Off
Trading At Weekly Support.
Buy- Between 65-70
Sl - 60
Target 85 90 100
TRIANGLE PATTERN IN SPICEJETKeep an eye on Spicejet as it trading inside a triangle and if it breaks on either side on a closing basis, can give good profits in very short time.
I am expecting it to break on higher side as corona cases are decreasing in India and people are coming back to normal life.
If it breaks on higher side, then,
First Target- 108 ( Recent High)
Second Target - 120 ( Pre Pandemic Level )
If the trade goes according to my expectations, it can give good returns of 45-60% within 6-8 moths.
THANKS FOR GOING THROUGH MY ANALYSIS
PLEASE ADD YOUR VIEWS IN THE COMMENT BOX
NSE:SPICEJET
SpiceJetBuy-62-60
SL-51 Below Closing Basis
Target-100-120++
Time Frame - Till Dec 2021
The Diwali Portfolio Picks..
Check The Air Tickets , If You Are Getting..HAHA..
Seems good with respect to price action. This is stock I've been watching since last few weeks, its responsing to price action perfectly, currently its at bottom of triangle and seeing the overall bull market it may move upward in upcoming day or in few week, it will be A good move to add this stock to portfolio @68 with STOPLOSS @64 or @58(risky-SL).
Target of 25-30% may be archived if candle runs according to our plan.
(Add on your own risk)
MULTIPLE PATTERN TRADE
BUY ABOVE THE CONSOLIDATION PHASE i.e. 83.30
ENTRY-83.30 ABOVE
SL-73.75
TGT-100.75/109.10/119.40
PATTERN FORMED
SYMETRICAL TRIANGLE
CUP & HANDLE
SMALL BOX PATTERN
Spicejet - another aviation stock about to take off !So do look at my Indigo (Interglobe Aviation) idea, already made good money in FNO on 1700 CE and then 1720 CE... Now it’s at 1750 ish... A huge Bearish candle was made on Friday, I am assuming someone booked solid profit. But stock settled quite quickly. I am optimist for an 1800 + level soon. Obviously when it will reach 1800+ level, then the great news channels will ask retail to buy... anyway.
So now I think Spice jet is exactly on the support line. It may retest by a very good swing opportunity again.
Logic is still that people with double vaccination do not need RTPCR report and all. When third wave comes, we will see but until then there can be a huge revenge travel specially in places like Goa/ Kerala etc.
Spice jet has a huge fleet and offers reasonable - ish fares...
I think the white lines are good 1st and second targets.
* Disclaimer - This is not a buying recommendation - Just for a thought on reading charts and patterns. Do consult a registered stock market expert before trading with your hard-earned money.
