Jet Airways (India) Limited Stock Forecast
Stronger technical forecast for Jet Airways (India) Limited stock price after Friday trading.
(Updated on May 10, 2024)
The Jet Airways (India) Limited stock price gained 0.217% on the last trading day (Friday, 10th May 2024), rising from ₹46.00 to ₹46.10. During the last trading day the stock fluctuated 5.36% from a day low at ₹44.80 to a day high of ₹47.20. The price has fallen in 5 of the last 10 days and is down by -6.11% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 7 thousand more shares were traded than the day before. In total, 62 thousand shares were bought and sold for approximately ₹2.86 million.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -2.13% during the next 3 months and, with a 90% probability hold a price between ₹39.26 and ₹58.42 at the end of this 3-month period.
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JETAIRWAYS.NS Signals & Forecast
There are mixed signals in the stock today. The Jet Airways (India) Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at ₹47.16 and ₹49.60. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Thursday, May 09, 2024, and so far it has risen 0.217%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Jet Airways (India) Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹43.05 and ₹42.10. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Jet Airways (India) Limited finds support just below today's level at ₹43.05. If this is broken, then the next support from accumulated volume will be at ₹42.10 and ₹41.00.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved ₹2.40 (5.36%) between high and low. For the last week, the stock has had daily average volatility of 4.52%.
Our recommended stop-loss: ₹43.30 (-6.08%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 1 day ago.)
Trading Expectations (JETAIRWAYS.NS) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Jet Airways (India) Limited to open at ₹46.03, and during the day (based on 14 day Average True Range), to move between ₹44.21 and ₹47.99, which gives a possible trading interval of +/-₹1.89 (+/-4.10%) up or down from last closing price. If Jet Airways (India) Limited takes out the full calculated possible swing range there will be an estimated 8.21% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹49.10 (6.51%) than the support at ₹43.05 (6.62%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Jet Airways (India) Limited stock A Buy?
Jet Airways (India) Limited holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.420 Hold/Accumulate Upgraded
Predicted Opening Price for Jet Airways (India) Limited of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| ₹46.03 ( 0.145%) | ₹46.10 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for JETAIRWAYS.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 48.43 | 5.06 % | |
| R2 | 47.52 | 3.07 % | ||
| R1 | 46.95 | 1.84 % | ||
| Current price: | 46.10 | |||
| Support | S1 | 45.12 | -2.13 % | |
| S2 | 44.55 | -3.36 % | ||
| S3 | 43.63 | -5.35 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 52.25 | 13.34 % | |
| R2 | 51.55 | 11.82 % | ||
| R1 | 49.10 | 6.51 % | ||
| Current price | 46.10 | |||
| Support | S1 | 43.05 | -6.62% | |
| S2 | 42.10 | -8.68% | ||
| S3 | 41.00 | -11.06% |
JETAIRWAYS Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 26, 2007 | Sep 13, 2007 | Nov 01, 2007 | ₹6.00 | 0.721% |
| 2 | Apr 29, 2006 | Sep 07, 2006 | Sep 24, 2006 | ₹6.00 | 0.92% |
| 3 | Sep 14, 2005 | Sep 14, 2005 | Sep 14, 2005 | ₹3.00 | 0.259% |
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