In our earlier posts, we failed to judge the quick trend change, mistaking it to a usual bounce in a strong downtrend.
However, a closing above the weekly 20EMA at Rs. 350 has confirmed the long term trend change simultaneous with the formation of inverse H&S and breakout above its neckline at Rs. 350 with rising volumes.The stock now has a pattern target of Rs. 480.
The stock is presently highly overbought and likely to retrace, which will be an appropriate time to enter longs using TTO crossover signal.
Earlier post :
http://eqtrend.blogspot.com/2015/06/jet-airways-avoid.html
