Nooresh Merani of Analyse India told CNBC-TV18, "Technically whenever we see an airline stock go up, it does not sustain for a long time and SpiceJet has been a long-term downtrend for a very long time right now. So, right now we are seeing a bounce of 6 percent maybe another 4-5 percent but ideally given as a trader as well as an investor, I would like to avoid this sector.”
“At current levels I would suggest an exit unless one is looking towards a speculative gains then in that case one can keep a stop loss closer to Rs 12.5 but overall any rise, exit out of the stock,” he added.
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