SquarExchange

SpiceJet Ltd. June 24 ,2 0 21

Queries
Airlines Entry Price: Rs.81.5- Rs.83 infosquarExchange@gmail.com
Symbol: SPICEJET Target Price: $130
Recommendation: BUY Upside: 56.62%

Trading Strategy
Below are the main technical and fundamental drivers behind trading Spicejet:
COMPANY STATISTICS
 Moving Average Breakout – The Airlines industry has taken a massive hit due to
Market Cap (Rs. Bn): 650.47 the travel restrictons imposed because of the COVID-19 pandemic. However, the
52-Week Range: 45.35 - 108 company has witnessed a strong support at 65-70 levels, along with the 26-day
EMA sustaining above the 50-day EMA. Additionally, the 50-Day has formed a
Dividend Yield: N/A
golden cross by crossing over the 200-Day, which is one of the most bullish
Revenue ($ Bn): 57.812 indication.
EPS ($): N/A  Relative Strength Index– The stock is making higher lows, but the RSI has been
P/Sales: 1.16x trailing with lower lows on the 1D time interval. This divergence acts as an early
indication of a strong incoming move.
P/E (Forward): N/A
Return on Equity (TTM): -12.26%
 Resistance Level Breakout – After hitting 52-week hights in Decemeber 2020,
the stock saw a major correction, which was followed by a significant sell-off.
Current Ratio: 0.08 However, the stock has recently been trying to sustain above the Rs. 80 resistance
Equity Beta: 1.33 level. We forecast a strong bullish momentum once the stock sustains above these
levels leading to an ideal entry position at 82-83 levels.
Shares Outstanding (in Mn): 601.353
Trading Thesis
 Entry Price: Rs. 82-83
 Price Target: Rs.130 (Possible LT target of $80 if it sustains above $66)
 Stop Loss: Rs. 60

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