The stock has outperformed its peers like Bharti Airtel in the recent fall in telecom stocks, but this outperfrmance will not last longer if it gives a sustained closing below 50-53. As you see in the chart if we take last 19 months in to consideration there is a head and shoulders pattern observed. Going by this pattern if it gives a sustained close below 50-53 it may correct by 15-20% and may be headed to around 40 odd levels. So wait for 40 around levels to invest in this stock if 50-53 is broken.
Stock View: Jet Airways
Buy JetAirways at current levels of 510 ( with a stop loss of 500 ) or wait above 524 to cross and look for targets of 538/542 in short term.
Stock View: National Aluminium
Buy Nation Alum if it sustains above 420 with a stop loss of 414 and look for targets of 435/440 in short term.
Have a nice trading day
Regards
Ankit
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