Page 5 - VP-APRIL 2016

technical

pick

Jet Airways (India) Ltd : Buy Jet Airways (India) Ltd is an India-based company,
CMP: ` 594 (As on 5th Apr, 2016) which provides passenger and cargo air transportation
Target Price : ` 640-670 services. It operates through two segments, air
Buy : ` 594-580 transportation and leasing of aircraft. It operates
Stop-Loss: ` 560 flights to 73 destinations in India and international
countries, including Abu Dhabi, Bahrain, Bangkok,
Jet Airways Brussels, Colombo, Dammam, Dhaka, Doha, Dubai,
Ho Chi Minh City, Hong Kong, Jeddah, Kathmandu,
Kuwait, London (Heathrow), Muscat, New York
(Newark), Paris, Riyadh, Sharjah, Singapore, and
Toronto. As of July 24, 2015, the company had a
fleet of 116 aircraft, which includes a mix of Boeing
777-300 ERs/Airbus A330-200/300 aircraft, Next
Generation Boeing 737s, and ATR 72-500/600s. The
company offers a frequent flyer program, JetPrivilege.
Its subsidiaries include Jet Lite (India) Ltd and Jet
Airways Training Academy Private Ltd.

Technical Outlook:

On the daily chart, the stock is trading in a channel
and has shown consolidation at 515 to 565 levels.
Further the momentum indicators are gaining
momentum. This suggests upside in this counter.

Hence we recommend buying the stock at Rs 594 or
on a decline up to Rs 580 with a stop loss of Rs 560
for a target of Rs 640 – 670 levels. Aggressive traders
can buy at current price for above mentioned target.

5 ARIHANT CAPITAL ¡ APRIL 2016