Book profits in Jet Airways , says Anil Manghnani of Modern Shares & Stock Brokers.
Manghnani told CNBC-TV18, "Jet Airways on the shorter term maybe just a stretch out but if you look at the longer term chart nothing has changed even with the sharp move of 40%. So if you are looking at Jet Airways Rs 350 is the key level, if it crosses that maybe it stretches to Rs 383 but I still believe that now you start looking to book profits and similarly with Kingfisher Airline Rs 30 to Rs 32 range is where I will be a seller."
He further added, "I think normally when a stock moves up so sharp and you get the first dip at least intraday basis you get a bounce, so I have gone more for just a day trade. In India Infoline keep yesterday's low as a stoploss around Rs 62 and expect the bounce back to around Rs 70."
