Formation of bullish harami with a reasonable volume
Support and resistance gives a green flag to the trade.
Risk reward ratio for the trade is reasonable.
From the long term perspective the spice jet is one of the best shot to be given. As the aviation is the most growing sector with respect to indian economy it can be prioritized in your watchlist. The Budget 2018 also gives a supporting results for this sector and leads to positive growth in it.
Spice jet as a low cost carrier airline service provider is emerging in the indian aviation sector. If we view the company in the long sight after 2014 when the singh has taken the chairmanship the EBITDA of the company is in an increasing trend. The valuations of the company would also recommend at strong buy. Overall it is a worth holding in your portfolio.
Thanks and have a good trading day.