Buy Jet Airways, looks good for trade among aviation stocks: CK Narayan
The only one worthwhile trading would be maybe Jet Airways. It is on the futures as well. So Jet for a higher target till about 245-248 still seems good.
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| Updated: In a chat with ET Now, CK Narayan, Growth Avenues Asset Advisors shares his views about the aviation stocks.
ET Now: What is the call on the aviation stocks?
CK Narayan: Jet Airways certainly seems to be having a lot of takers. So, that is clearly up with substantial volume support as well as momentum support and it has room till about 240-245 levels prior to seeing some amount of resistance.
SpiceJet in a manner is mimicking the Jet Airways chart although the price is at about Rs 20-21. It could try and follow in the wake left by Jet Airways.
Kingfisher Airlines is full of rumours right now. There were some rumours abounding in the market about some private investor coming in with some £450 million. These are the things which are really keeping this particular stock afloat, otherwise that would have really sunk.
But the only one worthwhile trading would be maybe Jet Airways. It is on the futures as well. So Jet for a higher target till about 245-248 still seems good. Positive news from EGoM is enough to propel the share up. 210-212 now is a very firm support for Jet. So one could probably consider buying it.
ET Now: What is the call on the aviation stocks?
CK Narayan: Jet Airways certainly seems to be having a lot of takers. So, that is clearly up with substantial volume support as well as momentum support and it has room till about 240-245 levels prior to seeing some amount of resistance.
SpiceJet in a manner is mimicking the Jet Airways chart although the price is at about Rs 20-21. It could try and follow in the wake left by Jet Airways.
Kingfisher Airlines is full of rumours right now. There were some rumours abounding in the market about some private investor coming in with some £450 million. These are the things which are really keeping this particular stock afloat, otherwise that would have really sunk.
But the only one worthwhile trading would be maybe Jet Airways. It is on the futures as well. So Jet for a higher target till about 245-248 still seems good. Positive news from EGoM is enough to propel the share up. 210-212 now is a very firm support for Jet. So one could probably consider buying it.
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