February 18, 2016
Jet Airways (NSE Cash)
556 - 551
14 - 21 sessions
Source: Falcon (Chart Time: EOD as on 17/2/2016)
This stock first gave a stupendous rally from October 2015 lows to register a new all time high of
merely three months. However, this entire up move immediately got retraced by 50%; indicating strength. In
past couple of weeks, the stock prices are consolidating around this support zone. On the minor degree
(hourly) chart, we are seeing a possibility of forming an ‘Inverse Head and Shoulder’ pattern as the stock has
rebounded after retracing its small up move by 61.8%. At present, the daily ‘RSI-Smoothened’ oscillator is
deeply oversold, which we expect to turn upwards and eventually lead to an up.
Thus, we advise traders to buy
this stock from current level to a decline to
551 for a target of
625 in coming 14 to 21 trading sessions.
The stop loss for this trade set up can be kept at
February 18, 2016
Last 7 recommendations
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Source: Angel research
Research Team Tel: 022 - 4000 3600 (Extn. 6552) Website:
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