Aviation stocks will be in limelight in today’s trading session after Indian Government allowed FDI in Aviation. Stock will be opening with huge gaps but still we can find trading opportunities. Lets jump into technical of Jet Airways,KFA and Spice Jet
Jet airways has been rallying on hope of FDI in Aviation and its a reality now after GOI decision on Friday evening.Jet has rallied from 335 to 382 levels.Trend line resistance comes at 420-426 odd levels. Stock will see a gap up opening in tune of 8-10% .
Buy above 404 Tgt 408,414 and 421
KFA will have sentiment reaction company is in debt of 8K cores. Stock will open gap up but cautious is advised on higher levels as Airlines will not be interested in near term. Except stock to react on higher levels.
Stock has 20% circuit filter and hence expect it to hit the level 13.4 levels.
Resistance for stock comes at 14.3 -14.5 levels, Traders holding it can use this level to book profit.
Trendline resistance comes at 39. Once it crosses 39 stock is bound to move up with leaps and bounds
Buy above 39.5 Tgt 42.5,44.5 and 47