Trading@461.50 Please vote to get MCX & NSE FO data on TradingView - Ask for the link in common chat room where trader colleagues are discussing about markets. 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...
Trading@466 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.
Looks like a Intraday Shorting opportunity in Jet. Also broken a trend line support. It has taken the Fib Retracement resistance now. Highlighted the targets and SL area. Target 1- 453
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. Trading Strategy 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. Trading Strategy Look for price to move above 465.20 for further longs or channel support as buying...
Finally Today Jet Airways landed @449- vow -completed its 5 wave sequence. Let Jet Airways Take off in a retracement to the leg, which started from 560's highs which was an e - wave of the X-triangle. We shall look for retracement 50%, which comes to 505 & 61.8%, which comes to 518-520 zone. Larger Picture -A Triangle in Jet Airways-- we are travelling in y-wave...
It is been observed that the price action broke out of the Descending Triangle on daily chart after a short consolidation highlighted in blue. That breakout made a Lower Lows at 453 levels from previous Lows made at 477, therefore it indicated bearishness. Now, the price action has made a New Lower Low at 448 levels, signaling higher weakness and prices fall...
Trade on either side of the breakout. I feel chart speaks for itself this time.
Yet again this trendline is so beautiful that Jet has paid respect to that line. Last traded at 465 lows -very close to the prior lows likely could be v-wave developing or b-leg in iv-wave once it crosses the trendline stays above or it goes below 453 lows to finish below 453.
Buy now in small quantity with SL of 460. Add on to it once the candle closes above trendline. Target 1:- 500 Target 2:- 520 Small SL of 460
Break of trend line should give a decent movement either side. BE PREPARED. 20 POINTS MOVEMENT COMING SOON.
If falling trendline crosses & Jet Airways start moving above- we exit sell & shall look for c-wave in iv-th wave which can extend beyond 503 High. Larger Picture Trading Picture Profit Picture Previous Picture
Below 484- Likely it should continue down in the zone 479-480 & if it holds in that zone, then push till prior swing high can be expected in the zone 488-490. Larger trend is down but financial markets never move in straight line.
Key Resistance -503 Post leaking from the Triangle, Jet Airways made a low@453 & retraced deep to current high@503 which is 61.8% ii-iii wave distance. Candle shows rejection in the zone 500-503. Likely we will continue in the final leg, possibly below 453- which will be confirmed once it starts moving below 486 -which could be a possible hurdle in the fall. ...
Strategy:One can go short when price touches the above slant trend line..As RSI value was much differ when price touches 1 trend line it shows Jet is bearish.Also the channel is also bearish.One can set target up to 2 trend line. Please don't trade as I am in learning stage.Traders can give their expert comments.
Stock seems to be forming 5 wave impulse in downward direction. Some more downside possibly till previous low looks likely. Volumes at low are still low even in daily charts indicating buying has still not happened. Would look for divergence for confirmation of bottom.
Since 2008 Highs @1048 -Jet Airways has been in range of 200 to 1000 -Yaa that range is big enough to trade on daily basis. Bigger Picture tells that it is triangle which is unfolding in JetAirways I shall look for the zone 240-260 as a golden opportunity in coming years -where the Intermediate Degree (E) -leg completes & as traditional analysis (A)-(C)...
Jetairways is consolidating in a Bigger triangle since last many years. On daily chart also there is a small triangle.Wait for breakout.