This chart tells us how 200 DMA plays a significant role in deciding the fate of a stock is association with 100 and 50 DMA. Price consolidated at 200 DMA but could not give an upward breakout. Then broke down, which was accelerated by 50 crossing 200 DMA. Now price has reached a logical support level which is holding for many days and if the same is broken down...
- All three falls (marked as 1,3 and 5) are almost equal size. - long term trend line support - highly oversold - 13 days of continuous red I had also posted crude charts which are topping out and jet is at very important support. Hence could give a decent rally from here. Risk reward is comfortable
JETAIRWAYS key support needs crude to drop
It is cool 17 points in just one day! More downside is possible. So it is 'Sell on rise'' strategy till 444 is reached.
Below 501 we can expect 444. Todays closed below 501. So SL is quite small and target profit can be handsome. Crude price is just not stopping. Hence heavy operational cost will sap up profit.
This is a bright example of 200DMA deciding a trend. The chart speaks well. And now 50DMA crossing 200DMA on the downside (Death Cross). Expect new lows.
Jet Airways Hourly Chart Scenario 1: Price is at 50% retract and demand zone, it can move up if candle closes above .618 retracement Scenario 2: If closes below 0.382 level then Jet Airways heading towards 665 - 670 levels to complete cypher pattern
BUY JET AIRWAYS ABOVE 728 STOP LOSS OF 715 TARGET 770 AND ABOVE TIME FRAME 5 TO 7 DAY'S ON DAILY CHART STOCK CLOSED ABOVE 100 DEMA AND BREAK PREVIOUS DAY HIGH .
With stops at 420, Jet airways is a buy for 600. CMP 476
BEARISH BAT in JET AIRWAYS. One can enter with target till 0.618 retracement (i.e at 560 level ) .
BUY - JET AIRWAYS - for LONG
Jet Airways looks to be under selling pressure with a support between 495 and 499 holding currently. In case this breaks it could fall to 485. However, it is showing to be oversold currently - so would be interesting to watch.
jet has moved out from a channel one can buy it on its trend line support. this trend line is also a neck line for h/s pattern. resistance/ target(support after crossing) pitch fork line 2nd target 518 stop loss trend line break down