Exit Jet Airways: Gujral

Technical Analyst, Ashwani Gujral is of the view that investor should exit Jet Airways because the stock has had already a run from Rs 250 and is likely to correct if oil moves higher which is expected.

Gujral told CNBC-TV18,“Airlines companies do badly and sometimes less badly, so when they get butchered, Jet Airways comes to about Rs 250-260. Oil prices are high etc and at that time if you invest where it is at a point of getting killed and if oil prices come down yes the stock moves upto about Rs 400-450. But that is the kind of play you really buy it when the companies are at the verge of going out of business and as they raise some capital and as oil prices correct a bit you trade them on the upside and there is certainly no trend to be on the upside here. So the investors need to get out because the stock has had already a run from Rs 250 and is likely to correct if oil moves higher which is expected.”