Prefer Jet Airways from aviation space: Rajat Bose

Rajat Bose of rajatkbose.com told CNBC-TV18, "The kind of technical setup that is there in Jet Airways, I would say that there are two critical levels, one on the upside and one on the downside. If Jet Airways fails to take out say Rs 580 then there would be no further rally and will climb down again. On the downside, Rs 559 to Rs 557 is the critical support area below which no long should remain, in fact you can actually expect Jet to climb down." "Jet tends to rally and test the critical level and if it gets past that, then further rally will happen otherwise you can take the two way trade, up to Rs 580 you remain long and if it fails to take out that then you go short and put a stop loss above a target level of Rs 599.90 which was the recent high on a particular trading session; that way you can trade," he said. "I am negative on aviation stocks other than Jet. I would say that Interglobe Aviation or SpiceJet are better not to be bought but Jet happens to be the best one among them. It might do well.""Marksans Pharma is trending down stock and probably it is actually headed for further lower levels and that is the basic reason why I have chosen it as a sell candidate today. Otherwise I am expecting the midcaps to still perform well in today’s session but in Marksans Pharma there is irredeemable situation. Place a stop loss above Rs 47.50 and keep a target of Rs 33. This is actually a stretched target but it can actually move further down. That is the reason why I have chosen Rs 33 as the target; that is a target derived technically." "Raymond showed good bounce yesterday and there had been good volumes as well. So, I expect it to move up even further. The level of Rs 424 is the target that I am looking at and Rs 383 would be the stop loss. Raymond can give another wide ranging day today and that is why this call."