Jet Air ways may find new lows 160, 115 or even 80

,it will have strong resistance at the long term TL (support turned resistance) line around 280 - 300 range. Scrip is technically weak, and fundamentally a broke. The market is moving with reasons either for technical or fundamental objectives. So there is definitely a reason that the stock is oversold and can show some buying interest make an up move based on that, but it cannot give any better gain unless the company show a strong fundamental change in its financial. It is having a better sales, is a hopeful thing, it can bring in to good earnings any time.
Watch the volume game. The stock is have abroad equity base of 11.36 crore stocks with a 1.25 cr in public hand. The day to day trade is 4 to 6 crores and the Delivery % is very nominal. Caution advised.

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A chain is only as strong as its weakest link