SpiceJet gained 2% to Rs 48.40 on NSE after the budget air carrier said it was designated as Indian scheduled carrier to operate on agreed services between India and the USA.
"in terms of the air services agreement between the Government of India and the Government of the United States of America, SpiceJet has been designated as Indian scheduled carrier to operate on agreed services between India and the USA," the company said in a statement durign trading hours today, 23 July 2020.Shares of SpiceJet lost nearly 5% in the past four trading sessions from its previous closing high of Rs 49.80 on 16 July 2020.
The stock is up 58% from its 52-week low of Rs 30.65 on 25 March 2020. The stock hit a 52-week high of Rs 152.85 on 19 August 2019.
On the technical front, the stock's RSI (relative strength index) stood at 46.468. The RSI oscillates between zero and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30.
The stock is trading below its 100 and 200 days simple moving average placed at 49.73 and 78.82 respectively. These levels will act as crucial resistance zones in near term.
SpiceJet is a domestic low-budget air carrier which provides scheduled flights between major cities in India.
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