Indigo, SpiceJet can jump up to 8% as intl flights resume, reveal charts

Both, Indigo and SpiceJet had broken major key levels; For reversal to take place these stocks need to conquer near-term hurdles and show sustainability.

Shares of aviation sector were seen trading favourably on Wednesday after the government lifted the extended ban of two years on international flights with effect from March 27, 2022. Stocks of prominent airlines witnessed a gap -up boost - InterGlobe Aviation zoomed 7 per cent, while Spice Jet was up 4.50 per cent in mid-morning trade.

Fundamentally, the opening for international travel is likely to bring business back on track to pre Covid-19 era. However, skyrocketing crude oil prices, that hover around 14-year highs at $130 a barrel can significantly dent the profitability of these companies.

Stock markets, across the global, have