SPICEJET trade ideas
Above resistance zone. Provided it is able to hold the level of 105 for a couple of days, fresh bullishness may take it to ATH level, say a level of 170 in intermediate term, say by March '21.
LONG 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 !!
Spice Jet Technical chartThis 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.
Long spicejet above 54. Will break almost 10 weeks high. Long spicejet above 54. Will break almost 10 weeks high.
Question on Spice JetStock just bounced from support zone.
If bought then Hold.
With SL close below 43.5
small dips can also be bought now.
But trending moves will come only on range breakout.
SPICEJET TRADE PLAN: 06 JUL 20 ONWARDSSpice Jet showing some interesting pattern & cleared by ATC to takeoff...lets see!!!
04 Jul 20
Spice Jet closed @ 50.15 on 03 jul 20 seems is in a consolidation phase ranging from 53.95-48.55 for last 18 days with decreasing volume . Waiting for breakout & confirmation of the pattern!!!
Trade Plan:
Buy – 54.05
Target 1 - 60.95
Target 2 – 68.10
Strict stop below 48.45
R:R - 2.49:1
Be Proactive Trader
Better Insight, Better Trade Execution
Views are for ‘’EDUCATIONAL PURPOSE ONLY’’ trade at your own risk.
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Happy Trading
Jai Hind
Dhiraj Singh Bais
Warrior @ Battle field
SPICE JETSPICE JET made a cup and handle pattern and expected upward breakout in coming days and will be touch his resistance. so buy spice jet@51 tgt@61,68,73 SL@47
BUY AND FLY HIGH WITH SPICEJET !!!!MONTHLY CHART SUGGESTS A BOTTOMED SPICEJET WITH BUYING SIGNAL AND A TARGET PRICE OF 80RS LEVEL
TIGHT STOPLOSS LEVEL @ 35
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...!!!
Resistance at 100.7099.50 was agood support and now when it will cross 100.70 on closing basis it may turn bullish. Has a long term support at 89.50 in case of bearish move from here.
spicejet
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