Thursday, 15 November 2012

JET AIRWAYS (INDIA) CMP 408- PATTERN BREAKOUT TO TARGET 20% GAINS IN SHORT TERM?

The stock of Jet Airways jumped by around 9.5% today and is challenging crucial resistance near the 410/415 mark. If the stock manages to clear the resistance, it can head upto 480/500 levels in the short term (20% appreciation). Fundamentally, things are improving with pricing power returning due to difficulties faced by Kingfisher Airlines. A move below 330/340 levels will invalidate this view. A powerful breakout of a symmetrical triangle can speed up the ascent.

Jet Airways heading for 20% plus gains in short term?





 


















Mohan Raghav
CEO, Financial Markets Algorithms
Web: www.financialmarketsalgorithms.com
blog: fmatechnicals.blogspot.com/
Twitter: camohanraghav
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours

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