Bounce for Jet - Very Tough, unless Government finds some owner for Jet Airways..As you can see Jet broke below all time support of Rs. 120..If there is further delay in finding a buyer for Jet then stock might slip below 50 levels as well..
JET IS GIVING BUY SIGNAL IN 15M CHART. THIS SHOULD SEE PRICE LEVELS OF 128 - 132.
IT IS BETTER TO GET OFF AT 132+ LEVELS.
HOUR CHART INDICATES THE MOVEMENT COULD BE UP TO 134.
ALL THE BEST WITH THE JOURNEY!
Jet has an interesting pattern on the Weekly. There could be a corrective Up move now that its at its weekly low. Selling here doesnt have a good Risk/reward whereas buy looks promising, IF and ONLY IF we get a clear pattern indicating a break to the upside. Now, there is a possibility, but, how likely is the question. Gotta wait for more patterns to form and develop.
I am looking this as triple three pattern
most likely they will move the price in side ways market until all the Open market orders are absorbed
I have pulled some trend line , price can be slightly here & there but it will be most likely in the same horizontal pattern
One can look to trade with in this range with pre-defined stop & exit methods
it will be...
Discussed last week as to how jet might be in accumulation stage on a 10 year support level .
If the business is shut down ,why is it not going to zero ? High chances of a bounce back if in talks with other airlines , only time will tell .
Can go long above 150+ with stop loss of 120 and for targets of 200 .