Buy Jet Airways, Jagran Prakashan; sell Dabur: Ashish Kyal

Ashish Kyal of wavesstrategy.com told CNBC-TV18, "Jet Airways has managed to move independent to what is happening to the broader market. Probably someone might say the uptrend is supported by the fall in the crude prices or other things but from technical perspective, the momentum has been strong and it has been ongoing for quite some time. I think it is better to stick with the stocks that are outperforming and not giving in when there is a serious capitulation. So Jet Airways should continue to do so and we can use a stop loss of Rs 735 and the target can be expected at Rs 845 on the upside.""If you look at the few media stocks including TV18 Broadcast and other media stocks like Zee Entertainment or Jagran Prakashan, there is a buzz across this sector and we can see that Jagaran Prakashan has managed to sustain above both the 50 days as well as 20 days exponential moving average (EMA) and it is trading near 52-week highs. So I think this short-term trend as well as medium-term trend is definitely positive in this stock and one can buy at current market price with a stop loss of Rs 162 and the target can be expected at Rs 183 on the upside," he said. Disclosure: Reliance Industries has acquired management control of Network18, which owns TV18 Broadcast and moneycontrol.com.

"On the sell side, I am not too big a fan of public sector undertaking (PSU) bank. It has been the major dragger and the short-term trend is definitely negative. One can short Allahabad Bank with a stop loss of Rs 65 on the upside and the target can be expected at Rs 57.""The next sell call is on Dabur India. It looks like there has been some distribution in the range of Rs 280 to Rs 260 and now it has given a break below that. So the downtrend should continue at least for few days in dabur. One should use a stop loss of Rs 268 and the target can be expected at Rs 236. Also one should keep a strict stop loss because I think markets are in oversold state and in case there is a sharp spike on the upside, there should be losses. So keep a strict stop loss, the momentum is reducing on the downside. So the direction for Dabur and Allahabad Bank is definitely negative and for Jagaran Prakashan and Jet Airways keep an eye on the upside," he added.