Buy Jet Airways, target Rs 550: Dharmesh Shah

Dharmesh Shah, Head Technical at ICICI Direct is positive on Jet Airways. The expert has advised traders to buy the stock with a target of Rs 648 and maintain a stop loss at Rs 550 in intra-day trade. The stock has touched a high of Rs 598.75 and low of Rs 581.25 so far in trade. The scrip has moved above its 20- and 100-day moving averages. It now faces its 50-day moving average at Rs 607 level.