Jet Airways- Trading The Turbulence@410-413 Zone- What Next?
تم تحديثه
Trading The Turbulence@410-413
Jet Airways Ltd. On Friday posted a nearly 70 percent fall in its third quarter net profit at Rs 142.38 crore as a steep rise in fuel costs and other expenses took a toll on its bottom-line. The full service carrier had a net profit of Rs 467.11 crore in the year-ago period.
Technically, we traded this turbulence price wise & I never knew that Jet is going to post jumbo fall in its net profit.
The bounce from 333-336 zone -a double bottom zone to 425 was a large corrective structure- Wave X. In the last update -it was suggested that going below 410-413 zone -putting stops@419-once it slips below 410. As soon as it slipped below the desired level, it travelled all the way to 397-400 zone initially & later extended to 375 which was recent low. A trader who can take risks & manage it properly (risk management) by trailing the stops could reap huge profits, but unfortunately we should believe what has happened & not what could have happened.
The fall from 425 to 375 -looks impulsive in nature & getting rejected in the 375-377.
What Next?
Keeping 375 as support in the coming session, we can expect sideways to positive bounce to the zone of 393-400 in the upcoming week. Once done, I shall come back again later.
You would also love to read my previous analysis as mentioned below(click the charts)
Jet Airways -Bigger Triangle (Interesting half of year 2017)
Jet Airways - Going below 515 & 507 - down leg to start
Latest- Weak below 410-413 zone
Previous Analysis-
Latest Analysis Target Achieved - weak below 410-413 zone
Jet Airways - Bigger Triangle - Interesting Half of Year 2017
Going below 515-507 - down leg to start- Enjoyed the surgical strike
Jet Airways Ltd. On Friday posted a nearly 70 percent fall in its third quarter net profit at Rs 142.38 crore as a steep rise in fuel costs and other expenses took a toll on its bottom-line. The full service carrier had a net profit of Rs 467.11 crore in the year-ago period.
Technically, we traded this turbulence price wise & I never knew that Jet is going to post jumbo fall in its net profit.
The bounce from 333-336 zone -a double bottom zone to 425 was a large corrective structure- Wave X. In the last update -it was suggested that going below 410-413 zone -putting stops@419-once it slips below 410. As soon as it slipped below the desired level, it travelled all the way to 397-400 zone initially & later extended to 375 which was recent low. A trader who can take risks & manage it properly (risk management) by trailing the stops could reap huge profits, but unfortunately we should believe what has happened & not what could have happened.
The fall from 425 to 375 -looks impulsive in nature & getting rejected in the 375-377.
What Next?
Keeping 375 as support in the coming session, we can expect sideways to positive bounce to the zone of 393-400 in the upcoming week. Once done, I shall come back again later.
You would also love to read my previous analysis as mentioned below(click the charts)
Jet Airways -Bigger Triangle (Interesting half of year 2017)
Jet Airways - Going below 515 & 507 - down leg to start
Latest- Weak below 410-413 zone
Previous Analysis-
Latest Analysis Target Achieved - weak below 410-413 zone
Jet Airways - Bigger Triangle - Interesting Half of Year 2017
Going below 515-507 - down leg to start- Enjoyed the surgical strike
تم فتح الصفقة
10:53 Hrs 6th Feb2017Last Price@374.70
375 did not hold & made a low@363.85 so now we will wait for the price to cross upside of falling trendline -once it does -then it travels to 395-400 zone where we need to inspect what next.
تم فتح الصفقة
10:59 Hrs 7th Feb2017Last Price@382
It crossed the trendline & got an opportunity between 376-378 -Now we will trail the stops to cost so we do not lose anything & just gain only in the zone 393-396 is the target zone.
تم فتح الصفقة
10:40 Hrs 8th Feb2017Last Price@380.40
Jet is struggling at the moment between 380-383 Likely can retest falling trendline & take support in the zone 365-368 then likely we think to buy with stops below 363 & target 393-396 or sustaining above 383 -we will look to buy for target zone 393-396.
تم فتح الصفقة
12:37 Hrs 8th Feb2017Last price@376.50
We are in the sell trade
Awesome - It falls from 380-381 zone -------Hurray!!!
تم فتح الصفقة
17:27 Hrs 8th Feb2017Pre Action Screen Image for Jet
تم فتح الصفقة
17:28 Hrs 8th Feb2017Last Price375
Day Low@372
Post Action Screen Image
تم فتح الصفقة
17:29 Hrs 8th Feb2017Closing Price@375
Day Low@372
As expected in the update10;40 Hrs today@8th feb2017 when it was trading between 380-383- expected that likely it retest the trendline - Bang On! indeed it went close to 372.
تم فتح الصفقة
12:25 Hrs 13th feb2017Last Price368
Kissed the zone 365-368 - Shall wait to see the market reaction from here onwards.
أغلقت الصفقة: تم الوصول للهدف
16:45 Hrs 14th Feb2017Closing Price@362.65
Shall continue in the latest post of Jet Airways.
Best Regards,
Abhishek H. Singh
Growth Director - TradingView India
YouTube Channel youtube.com/channel/UCYcnYveYBNLD-Qp54hvZogw
Twitter Handle
twitter.com/TalksWave
Telegram Handle
(Deleted)
Abhishek H. Singh
Growth Director - TradingView India
YouTube Channel youtube.com/channel/UCYcnYveYBNLD-Qp54hvZogw
Twitter Handle
twitter.com/TalksWave
Telegram Handle
(Deleted)
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