Buy Kingfisher Airlines: Mitesh Thacker
KFA and most of the other airline stocks have stopped falling probably because crude has cooled off significantly from its higher levels.
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| Updated: Mitesh Thacker, Technical Analyst, miteshthacker.com, in a chat with ET Now, speaks about Kingfisher Airlines Limited.
What is the call on KFA?
Kingfisher Airlines and most other airline stocks have stopped falling probably because crude has cooled off significantly from its higher levels. After having a significant decline over the last couple of quarters, they are going through a consolidation phase. So you might not see much happening now but very clearly there are initial signals that the broader downtrend may be coming to a halt and probably we might be preparing ourselves for some upside, but KFA particularly needs to break above 47.5-48 to start some uptrend. So as of now, it is in a range of about 39 to 47-47.5 on the upper side and once the breakout happens, probably you might get a good trend over there.
What is the call on KFA?
Kingfisher Airlines and most other airline stocks have stopped falling probably because crude has cooled off significantly from its higher levels. After having a significant decline over the last couple of quarters, they are going through a consolidation phase. So you might not see much happening now but very clearly there are initial signals that the broader downtrend may be coming to a halt and probably we might be preparing ourselves for some upside, but KFA particularly needs to break above 47.5-48 to start some uptrend. So as of now, it is in a range of about 39 to 47-47.5 on the upper side and once the breakout happens, probably you might get a good trend over there.
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