Jet airways

Market Sentiment - Bearish – Sell on Retracement

Daily technical chart pattern for Jet airways looks bearish. Resistance has been seen at Rs. 550 area. If this stock won’t rise further, than it could be a good idea to short this stock on retracement at around Rs. 500 with target below Rs. 400 with tight stop/loss just above Rs. 538.

But keeping the recent market bullish activity due to US market bailout in mind, I would suggest waiting for retracement and shorting with volume confirmation.