Jet Airways- Trading The Turbulence@410-413 Zone- What Next?
Güncellendi
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
İşlem aktif
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.
İşlem aktif
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.
İşlem aktif
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.
İşlem aktif
12:37 Hrs 8th Feb2017Last price@376.50
We are in the sell trade
Awesome - It falls from 380-381 zone -------Hurray!!!
İşlem aktif
17:27 Hrs 8th Feb2017Pre Action Screen Image for Jet
İşlem aktif
17:28 Hrs 8th Feb2017Last Price375
Day Low@372
Post Action Screen Image
İşlem aktif
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.
İşlem aktif
12:25 Hrs 13th feb2017Last Price368
Kissed the zone 365-368 - Shall wait to see the market reaction from here onwards.
İşlem kapandı: hedefe ulaştı
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)
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.