Sanjay Dutt, Quantum Securities is of the view that one should buy aviation stocks at lower levels.

Dutt told CNBC-TV18, “The smart money was very clear that oil price are going to moved down so that is the reason you have seen Deccan Aviation from Rs 65-70 levels to Rs 110 levels and similarly early Rs 500 levels in Jet Airways has seen you now at Rs 700. The move is done for the short term; I don’t see anything more there. These are good levels to take some profits home if you have bought them at lower levels."

He further added, "Longer-term story looks good in the aviation sector despite the fact that it is a doggy business at this point of time because of competition in pricing and new schemes that have come out daily. I still like the sector but I would want to buy it at lower, one would get better levels to buy it.”