SpiceJet - Set for another rise ?

Just saw Spice Jet breakout from downward resistance line with a bullish engulfing candlestick and RSI rising.
Currently trading above its EMA 30 which should act as a support level.

With Crude under severe pressure we can see airline stocks like these benefit with low oil prices.

Trading strategy :
Buy @ CMP 108 levels
Target :123
Stop loss : below 100

Happy trading.

Trade active

Comment:

Made a low off 99.50 - Just 0.05 away from my initial stop level (see chart) . Stop has been placed at a very close level because the script is volatile and chances of whipsaw are high.
Script trades in BSE cash segment. Hence, one has to wait till the shares come into DEMAT before selling them. Let's see what happens tomorrow.

Trade closed: target reached:

Target achieved today.