IndiGo, PVR: These recovery-plays can surge up to 11% despite Omicron woes

These stocks have corrected between 10-20 per cent over the last one month relative to benchmarks' 3 per cent fall. Here's a possible way forward for these stocks

InterGlobe Aviation Ltd (INDIGO)
Likely target: Rs 2,100 to Rs 2,050
Upside potential:  5% to 7.50%

The shares of InterGlobe Aviation have firm support around the t200-day moving average (DMA) currently situated at Rs 1,831 level. And as long as this mark is held compellingly, the positive bias is here to stay. That’s said, the bullish trend starts above the resistance range of Rs 2,100 to Rs 2,050 levels, which the counter is attempting to conquer, according to the daily chart.  CLICK HERE FOR THE CHART

SpiceJet Ltd (SPICEJET)
Likely target: Rs 73 and Rs 78
Upside potential:  7% and 11%

The accumulation range of Rs 62 to Rs 60 has given another reversal for the recent weakness, as per the daily chart. This support-accumulation range has consistently held the weakness since April 2021 and has managed to assists the Relative Strength Index (RSI) to rise above the oversold territory. The immediate resistance comes at Rs 73 and Rs 76 levels.  CLICK HERE FOR THE CHART
 
Indian Hotels Co. Ltd (INDHOTEL)
Outlook: Weak trend, needs to hold 100-DMA.

The current trend exhibits a corrective phase with “Lower High, Lower Low” pattern. However, until the stock does not violate Rs 176 mark, which is the 100-DMA, the positive sentiment may recover. The immediate resistance comes at Rs 195 and Rs 207 levels. The last two sessions have seen stable price move, which hints at diminishing selling pressure.  CLICK HERE FOR THE CHART

Oriental Hotels Ltd (ORIENTHOT)
Outlook:  Consolidation phase.

The sideways consolidation in the range of Rs 44 to Rs 34 has a strong support of 200-weekly moving average (WMA) currently placed at Rs 34 levels, this consolidation is occurring from last five months and any breakout of this range may decisively see an upside of 10 to 15 per cent, according to the weekly chart. this consolidation is occurring from last five months and any breakout of this range may decisively see an upside of 10 to 15 per cent. CLICK HERE FOR THE CHART
 
PVR Ltd (PVR)
Likely target: Rs 1,400 and Rs 1,500

Upside potential:  4% to 11%

The positive crossover of RSI just above the oversold territory is assisting the stock to regain the bullish strength. This move is heading towards Rs 1,400 and Rs 1,500 levels, its next crucial resistances. The closing basis support locates at Rs 1,300 and Rs 1,250 levels, according to the daily chart. The bigger trend appears above Rs 1,500 levels, which is its 100-DMA. CLICK HERE FOR THE CHART
 
Inox Leisure Ltd (INOXLESIUR)
Outlook: Range bound trade

The shares of Inox Leisure Ltd are stuck in the range of Rs 420 and Rs 340 levels. These price levels are near to the 50-DMA (Rs 409) and 200-DMA (Rs 336). The trend shows a continuous attempt to cross the higher resistance of Rs 420 with the consistent support delivered by 200-DMA placed at Rs 336 since June 2021. The upper side breakout suggests a rally towards Rs 460 levels, according to the daily chart. CLICK HERE FOR THE CHART