Jitendra Panda, Future Capital is of the view that if one is holding Jet Airways keep your stop loss very strict. “I would not like to initiate fresh long position at this juncture on Jet Airways,” he adds.
Panda told CNBC-TV18, “In Jet Airways a lot of long positions were added in the last month series and rollover also happened very well, considering the fact the margins have been growing. The markets have really moved up during the rollover. We have seen good long positions in the margins expectations of better results because of the pricing and the activity happening with the number of occupancy. But I believe now at this juncture from here further upside will be little risky. I am not saying that to build a short position, but if you are holding long keep your stop loss very strict. I would not like to initiate fresh long position at this juncture on Jet Airways.”
Disclosure: My clients may have positions in the above mentioned stock.
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