The low can be seen at 115.50. If bullishness returns due to spectacular quarterly result,
the stock may see even a level of 180 in near term. In all short term scenerios the stock
is in bearish move and the sentiment likely change only when the stock crosses 127.8 on
closing basis.
Go long above daily demand zone if a bullish candlestick is formed. The stock tends to take off from 75D EMA forming a new higher high.
Buy - 143-145
CBSL - 139
Target - 154
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.
