Jet Airtways has been trading in bearish channel and is now on the edge of long term support. it may go either way on Monday,traders may wait to see the breakout downward, if occurred the short entry is advised with a target of 314, of if open green it may trade inside the bearish channel and will head towards channel resistance 416 in near term.
Point B : at least 61.8% retracement of XA leg , should not touch or close above 78.6 retracement
Point C: at least 61.8% retracment of AB leg ,should not touch or close above 78.6 retracement
Point D: 127.2% extention of AB.
Jet airways formed a bullish gartley pattern on weekly charts .
Buy at 380
SL at 314 (on weekly close basis)
Holding 360 - if Jet bounces & travels upside first to 385-389 zone. Above 390 can travel to 410-420 zone- if this happens then we will conclude that 3rd wave is getting subdivided.
Falling From Triangle
Jet air seems to have broken down from a triangle after the stock broke out of the multi week multi month triangle on the upside.
The lower trendline of the previous triangle may act as good support.300-320 seems good buy price
Double Bottom in the zone 370-372 zone if holds, then likely we can expect a bounce for Jet Airways in the coming session.
This scenario can play out once it holds above 370 & most likely if crosses 390 then it can go deep upside possible 420+ zones- which is premature now- so, keep a watch on the counter.
Leaking from the...
The fall from 562.40 to 443 which was wave-1 retraced 38.2% in 488 was a good opportunity for taking sells or a break of 450-453 zone was another chance for taking sell positions as updated in previous updates. In the zone 360-365 it will measure equality distance travelled in wave -1 down from 562.40 to 443 -which will be minimum distance- it should travel...
Jet Airways trading in bearish channel trend since last six months, it has touched long term support today and also form a bullish hammer indicating the bullish move, it may go upward from 428.75 with a target of 510.00 in near term, trader may go long in this stock at CMP, before entry do cautious the breakout downward if it breaks support then it will further...
Going below 450-453 zone will confirm that new down leg could start. At 488 mark -Wave A-B-C combined retraced 38.2% of the fall from highs of 562 to 443- can be possible if it is the more bearish case. Likely we want Jet Airways to move below 450-453 zone to give us more...
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CC- Choppy & Channeled
Jet Airways- One should really keep a watch for the leg, which is expected upside as the fall from 483.5 down looks very choppy & its moving in a channel. Any Move above the...
Likely -I am looking for that upside wave close to 500-505 zones as expected earlier- Taken a shape of A-Wave from 443 lows to 483.50 highs than a fall from 483.50 to 462.60 so we are close to start another wave upside which will finish that required time wise correction.
As explained earlier, it is a recovery rally to low made@443 from highs@562- expecting a bounce atleast till 500-505 zone- one should understand trading corrective waves is always will be tough.
Either wait for the bounce in the zone 500-505 for a bearish opportunity or going below 452-450 will indicate pressure in the stock & by that channel...
It should not move below swing low@452- key level or any move above 465.20 should be looked positive- rising channel can also be looked as good support.
Likely, we have a short term low@443 but going below 452 will open for complex correction in Jet Airways.
Look for price to move above 465.20 for further longs or channel support as buying...