October 30, 2015
Jet Airways (NSE Cash)
BUY
` 397
` 418 - 415
` 458
14 - 21 sessions
Daily Chart
Source: Falcon (Chart Time: 13:50 IST)
Justification:
In recent past, the stock had given breakout of the falling trendline resistance which can be seen in above
exhibit. Post breakout, prices are consolidating in a narrow range and has formed a ‘Bullish Flag’ pattern on
daily charts. The volumes in the recent upmove were good and the prices are showing initial signs of
breakout from the mentioned bullish continuation pattern. The ‘RSI’ indicator on daily charts is showing
positive momentum post consolidation. Thus, we advise traders to buy this stock at current levels and on
corrections up to ` 415 for a target of ` 458 in coming 14 to 21 trading sessions. The stop loss for this
trade set up can be kept at ` 397.
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October 30, 2015
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Source: Angel Research
* Dividend of Rs 3 adjusted
Research Team Tel: 022 - 30940000(Extn: 6552) Website: www.angelbroking.com Email: [email protected]
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