Apr 27, 2012, 12.11 PM | Source: CNBC-TV18
Sudarshan Sukhani of s2analytics.com is of the view that one can buy Jet Airways on dips.
Sudarshan Sukhani (more)
Technical Analyst, s2analytics.com | Capital Expertise: Equity - Technical
Sukhani told CNBC-TV18, "Jet Airways does the right things on the charts and as traders we have an open mind. The stock was rallying and after that rally it went through a correction that was the recent decline in Jet Airways, from Rs 370 to Rs 330 levels was a correction and after a correction yesterday it seems to have bottomed out and given a sign that buying is possible, so an up trending stock goes through a dip. This is a classic buy on dips. What the airline does or doesn’t do is not my concern; the chart is certainly justifying a buy."
He further added, " Opto Circuits is a high risk trade, it’s been falling. It’s fallen from Rs 220 to Rs 175. Now there is a suggestion that this is a small base, it’s probably making a small minor micro double bottom and coming out of it. There is risk because we are buying the lows and trying to catch falling knives, not exactly but somewhat. But on the other hand if we are right about it then there is a very decent rally and we are buying at the lows and that’s the reward also. I think it is worthwhile; traders can look at futures in it and also consider equity rather than leverage themselves."
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