-As we can see a pin bar or inverted hammer pattern that denotes exhausted bulls. -Target will be fib retracement levels -And this could be the new impulse wave-1 to the upside, which I'll later on confirm.
JetAirways is giving a potential Buy opportunity as it was forming and ending diagonal with divergence.. With bullish candlestick pattern supporting the analysis for long I would buy now for target of 400 and beyond.. Happy Trading!!
It was interesting fall from 796 to 440 and now made 52 Week low at 336. And finally last week RSI reached 25 levels. So its a clear buy with initial target of 380 sustaining above this level can take further upside. Keep the stop loss below the recent low of 336.
Gartley Pattern 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 Target 505 SL at 314 (on weekly close basis)
* Bullish Harmonic * Positive divergence on RSI >> View negates below 350
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.
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. Key Support-360 Falling From Triangle
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 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
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 atleast.
Prefer a stop loss @510. Going above 510 may take it towards 630 levels. CMP 484.45 Target 1 441 Target 2 354 Stop loss 511
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...
Always be careful of the levels mentioned. It's the final leg (E) which is unfolding as per larger picture & previous update in Jet Airways. In the short term, there too is a triangle in X-Wave. Trading Strategy Either I will take short when prices come & touch the (a) -(c) trendline in the x - wave triangle which comes in the zone 590-600 Keeping in mind...
Last Price@434.50 Going below 450-453- It was suggested that Jet could be in trouble- Did Oil started leaking
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 confidence.
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Trading@456.50 This mid session was all bears- bulls will be excited if they get last half. Jet on a channel bottom can it bounce from 455 lows.