Spicejet - another aviation stock about to take off !So do look at my Indigo (Interglobe Aviation) idea, already made good money in FNO on 1700 CE and then 1720 CE... Now it’s at 1750 ish... A huge Bearish candle was made on Friday, I am assuming someone booked solid profit. But stock settled quite quickly. I am optimist for an 1800 + level soon. Obviously when it will reach 1800+ level, then the great news channels will ask retail to buy... anyway.
So now I think Spice jet is exactly on the support line. It may retest by a very good swing opportunity again.
Logic is still that people with double vaccination do not need RTPCR report and all. When third wave comes, we will see but until then there can be a huge revenge travel specially in places like Goa/ Kerala etc.
Spice jet has a huge fleet and offers reasonable - ish fares...
I think the white lines are good 1st and second targets.
* Disclaimer - This is not a buying recommendation - Just for a thought on reading charts and patterns. Do consult a registered stock market expert before trading with your hard-earned money.
