Stay away from Jet Airways, Kingfisher Airlines: Kulkarni

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Stay away from Jet Airways, Kingfisher Airlines: Kulkarni

Stay away from Jet Airways, Kingfisher Airlines, says Shardul Kulkarni, Sr. Technical Analyst, Angel Broking.

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Excerpts from Midcap Radar on CNBC-TV18 Watch the full show » ALSO READ See previous views by Shardul Kulkarni See what other Experts & Brokerages are saying about Jet Airways See messages about Jet Airways

Stay away from Jet Airways  and Kingfisher Airlines , says Shardul Kulkarni, Sr. Technical Analyst, Angel Broking.

Kulkarni told CNBC-TV18, "In case of Jet Airways and Kingfisher I would not want to venture into any long positions. There is a probability that Jet may move to Rs 220-225. You may see Kingfisher move to Rs 25.5-26."

He further added, "I don't think it makes sense to go long in case of these stocks because they have had a very long painful last 6-8 months and a sideways consolidation or a base formation is something that you should be looking at in case of the airline counters. Nothing is clear on the charts as if now. I would stay away from these counters. There are many other opportunities in the market to trade on."

Disclosure: We may have positions in some of these counters.