Buy Jet Airways and Kingfisher: Ashwani Gujral

In a chat with ET Now, Ashwani Gujral, Chief Market Strategist, ashwanigujral.com, talks about Aviation stocks.

Aviation stocks on the charts given the fall that we have seen in Jet Airways earlier in the day?

Jet Airways, although it has fallen on some other news but if crude keeps falling, then these stocks could be positive. Jet Airways is likely to find support around 400 to about 410. It has done its decline, from 900 it declined to about 400, so around the 400-410, maybe it is a good buy if you have to bet on commodity prices coming down but overall it is still in a downtrend, possibly the range is between 400 and 500. The rest of them also started the kind of moving but they have been under pressure because of the market. Kingfisher, you could try to buy it around probably levels of 38 and in case crude comes down, you will probably see renewed rallies in all of these stocks but clearly the way oil marketing and ONGC are moving, that should be your crude plays instead of the airlines.