1. Resumption of civilian flights in India,
2. Relatively low oil prices which will compensate for a relatively low seat capacity, and
3. The stock was beaten down by disruption in service is recovering now.
Technically, the histograms are indicating an uptick in price after largely sideways trend for past 45-days.
Fundamentally, at 44/share - the price is fair to accumulate and average down positions. For fresh positions, strict stop loss of 30 is advised for a target of 86 - 92 (which is close to the fair value).
Disclaimer: Not a SEBI registered investment advisor or research analyst. Using knowledge from CMT / CFA / FRM candidacy and content (the idea) is for educational purpose only. Not accountable for PnL .