Exit Jet Airways around Rs 670-675: Sanjeev Agarwal

Sanjeev Agarwal, CEO, Dynamix Research & Capital Management advised selling Jet Airways on rally rather than buying on dips. According to him, Rs 670-675 is an ideal level to exit the stock.

Agarwal told CNBC-TV18, “Jet Airways was consolidating for this news because market was expecting that some or the other news will come sooner or later. Whenever there was a delay the stock used to correct and whenever there was a hope of deal getting through the stock used to rise. Once the news came in the stock opened like everybody knew that it is going to open at a very high price and after that it is corrected.”

“So, I feel Rs 670-675 is an ideal level to exit the stock rather than enter the stock. Once the deal goes through and after that the stock might correct later when the realities will catch up. I think in a rise one should exit rather than buying on dips,” Agarwal added.

Also Read: Jet Airways sells stake to Etihad for Rs 2,060cr