Long
Spicejet Ready to Fly?
Points to note:
1. A STRONG DEMAND ZONE near the 34-36 range, formed and sustained repeated tests.
2. A (final?) TEST BELOW the zone attempted yesterday & rejected with vol., leading to belief that sellers have lost interest.
3. A DESCENDING TRIANGLE formed. Therefore, a good move can be expected.
____________________________________________________
Aggressive Entry at cmp with SL 31. Targets of 43.55, 58,63.
RR of 1:3.5
Disclaimer: As always, trade according to your own risk appetite. And always enter SL first.
1. A STRONG DEMAND ZONE near the 34-36 range, formed and sustained repeated tests.
2. A (final?) TEST BELOW the zone attempted yesterday & rejected with vol., leading to belief that sellers have lost interest.
3. A DESCENDING TRIANGLE formed. Therefore, a good move can be expected.
____________________________________________________
Aggressive Entry at cmp with SL 31. Targets of 43.55, 58,63.
RR of 1:3.5
Disclaimer: As always, trade according to your own risk appetite. And always enter SL first.
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