Ashu Madan of Religare Securities advises traders to book profit in Jet Airways .
Madan told CNBC-TV18, "The spotlight is entirely on Jet deal. Probably the way things are panning out and the buzz is, it looks like it is going through. That is the only saviors at this current situation. If it does not happen or anything negative goes wrong with the stock, the investor should keep a strict stop loss of Rs 560."
He further added, "As long as it remains above and the way it is consolidating at these levels, on an announcement there could be a spurt in the stock. That spurt should be utilised to get out of this stock because we have to see the details and the fine prints on the offer pricing. Most probably there could be one spurt and we could see range of Rs 650-Rs 660. For a retail investor in this kind of a stock at this level it is better advice that whatever profit is on the table he should get out which is particularly event on news based."
Madan told CNBC-TV18, "The spotlight is entirely on Jet deal. Probably the way things are panning out and the buzz is, it looks like it is going through. That is the only saviors at this current situation. If it does not happen or anything negative goes wrong with the stock, the investor should keep a strict stop loss of Rs 560."
He further added, "As long as it remains above and the way it is consolidating at these levels, on an announcement there could be a spurt in the stock. That spurt should be utilised to get out of this stock because we have to see the details and the fine prints on the offer pricing. Most probably there could be one spurt and we could see range of Rs 650-Rs 660. For a retail investor in this kind of a stock at this level it is better advice that whatever profit is on the table he should get out which is particularly event on news based."
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