Trading strategies for Aviation stocks amid Go First bankruptcy

Indigo shares may hit a new historic peak once it settles over Rs 2,200 level.

Shares of Aviation sector were catching limelight on Wednesday, following the unlisted airline owned by Wadia group Go First filed for bankruptcy.

InterGlobe Aviation’s shares hit a new 52-week high, a gap up opening supported by strong volumes, while SpiceJet’s shares were seen trading over 4 per cent, crossing above average volumes of last several months. 

Meanwhile, Jet Airways (India) locked in 5 per upper circuit, showing a rebound from its 52-week low.

Here’s the technical outlook for aviation stocks amid Go First filing for bankruptcy:  

InterGlobe Aviation Ltd (INDIGO) 

Outlook: Sustainability over Rs 2,200 may see stock reaching a new