Jet Airways has strong support around Rs 440-450: Doctor

Jet Airways has strong support around Rs 440-450, says Parag Doctor, Head - Trading Strategies, Keynote Capital.
 
Doctor told CNBC-TV18, “Jet Airways has strong support around Rs 440-450 levels technically. It is a long-term 200 day average which is placed in that zone and in spite of this news that the deal is delayed I don’t see the stock breaking the base below that Rs 440-450 levels.”
 
He further added, “The investor should hold on to the stock and keep the stop loss around Rs 440. We expect that as the deals date comes nearer and if it goes through, probably the Rs 600-650 levels should get taken out again and he will get a chance to exit the stock. So, I would say wait and just keep Rs 440 as the key level to watch.”