Tech view: Here's how Indigo and Spicejet look on technical charts

The overall trend of IndiGo indicates a positive bias; however, the stock needs to either stabilise the steep move or show consolidation to gain a sustained rise in the coming sessions.

Jet Airways crashed 34 per cent to hit a 10-year low in the intra-day trade on Thursday after the airline suspended operations as lenders turned down the airline’s demand for emergency funding. Following this, shares of other listed airlines - SpiceJet and IndiGo, gained in the trade.

Here's a look at what the technical charts indicate for the two airline stocks - 

InterGlobe Aviation (INDIGO): The stock has seen a bullish breakout of Flag Pattern that leads to Rs 1,650 levels. It needs to take a relief, as oscillators have entered overbought territory. The RSI (Relative Strength Index) is