BUY JETAIRWAYS 535-530 SL below 525 Target 575

JET AIRWAYS IS MAKING MULTIPLE BOTTOMS IN RANGE OF 520-530 AND BOUNCING BACK. I EXPECT IT TO BREAK OUT OUT OF DESCENDING TRIANGLE.

WORD OF CAUTION : NIFTY IS TRADING AROUND 8970 IN FUTURES SO WE CAN HAVE CORRECTION .

SO I WOULD GO LONG IN JET AIRWAYS AND HEDGE IT BY SELLING NIFTY CALLS OR FUTURES