Spicejet: Can you take me higher
Spicejet
The stock has struggled a lot in past but since September 2022, the stock has managed to hold on to the Bear onslaught.
Financially still unhealthy, but with restructuring process due to be completed soon, and Oil prices cooling off, things may improve for the aviation sector going forward which can in turn help the aviation sector.
If we analyze the market share Indigo is the clear market leader and the rest are capturing a share of around 8% each roughly.
Indian Airlines Market Share (%)
IndiGo 58.8
Vistara 10.4
Air India 8.4
Go First 8.2
SpiceJet 8.0
Air Asia 4.6
Alliance Air 1.2
Source: AngelOne (Data is as of September 28, 2022)
Technical Analysis view
- the stock is trading above it's 21 day EMA and 63 day EMA
- the stock has made higher bottom since September 2022
- trendline support area around 38.5
Target for the stock 52 / 58 / 62
SL 34.50
There you go, I have shared the analysis both as per Technical Analysis and little Fundamental insights.
Understand the context of investment and assess your risk management and I trust the above analysis would help you take informed decision.
Take care & safe trading...!!!
Disclaimer
- The view expressed here is my personal view
- Past performance is not a guarantee for future predictions
- I have been wrong in the past and can be wrong again in future too
- Use this for educational purpose
- Any decision you take, you need to take responsibility for the same
- It's your hard earned money. Treat it wisely
- Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance
- if trading in F&O, understand that F&O trading involves risk
- Do take proper risk management measures
- Do your own analysis and consult your financial adviser if need be
The stock has struggled a lot in past but since September 2022, the stock has managed to hold on to the Bear onslaught.
Financially still unhealthy, but with restructuring process due to be completed soon, and Oil prices cooling off, things may improve for the aviation sector going forward which can in turn help the aviation sector.
If we analyze the market share Indigo is the clear market leader and the rest are capturing a share of around 8% each roughly.
Indian Airlines Market Share (%)
IndiGo 58.8
Vistara 10.4
Air India 8.4
Go First 8.2
SpiceJet 8.0
Air Asia 4.6
Alliance Air 1.2
Source: AngelOne (Data is as of September 28, 2022)
Technical Analysis view
- the stock is trading above it's 21 day EMA and 63 day EMA
- the stock has made higher bottom since September 2022
- trendline support area around 38.5
Target for the stock 52 / 58 / 62
SL 34.50
There you go, I have shared the analysis both as per Technical Analysis and little Fundamental insights.
Understand the context of investment and assess your risk management and I trust the above analysis would help you take informed decision.
Take care & safe trading...!!!
Disclaimer
- The view expressed here is my personal view
- Past performance is not a guarantee for future predictions
- I have been wrong in the past and can be wrong again in future too
- Use this for educational purpose
- Any decision you take, you need to take responsibility for the same
- It's your hard earned money. Treat it wisely
- Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance
- if trading in F&O, understand that F&O trading involves risk
- Do take proper risk management measures
- Do your own analysis and consult your financial adviser if need be
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