August 23, 2018 / 7:15 AM / in a month

BUZZ-India's Jet Airways slides; may retest support at 265.15 rupees -Technicals

** Shares of Jet Airways (India) Ltd fall as much as 2.8 pct to 284.20 rupees, their lowest in over a week

** India’s biggest full-service airline said on Wednesday it would discuss ways to cut costs and turn its business around during its board meeting on Monday

** Co said last week it was evaluating funding options to meet its liquidity requirements

** Jet Airways may retest a support at 265.15 rupees, the 161.8 pct Fibonacci projection level of the down trend from Feb 14 high to April 2 low (wave 1)

** Stock is on a downtrend with its falling 20-day exponential moving average acting as a resistance. Until now there are no signs of any bottom formation

** RSI shows resistance near the 50 level and MACD is still negative, both bearish for the shares

** Stock has fallen 64.5 pct this year as of last close

Reporting by Sharnya G and Gaurav Dogra

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below