SpiceJet is India's second largest airline by domestic passenger share. It carries over 13 million passengers annually to 51 destinations using a fleet of 34 planes. SpiceJet is looking to further expand by acquiring 80-100 new planes in a $10-11 billion deal. Recently, SpiceJet reported its second straight quarterly profit. From a technical analysis, the stock price has been rising with increasing volume over the past 4 weeks and has closed above key resistance levels, indicating strong upward movement in the coming days. The report recommends buying SpiceJet with a price target of 38 and stop loss of 23.65.

1. About Spice jet Ltd.
 SpiceJet is an Indian low-cost airline. It is the country's second largest airline by domestic passenger
share. The airline began services in May 2005 and has its corporate office in Gurgaon, Haryana. The
Company carries approximately 13.54 million passengers and covers 51 destinations, while operating
331 flights per day using a fleet of 18 Boeing 737 planes, 14 Bombardier Q400 jets and two wet-leased
Airbus A319 planes.
 Now days, outlook for aviation sector has improved after a fall in ATF prices, which account for nearly
40 per cent of the operating expenses of airlines in India. The passenger traffic has also shown a strong
growth.
 Moreover, on the way for further expansion, SpiceJet is looking for 80-100 planes and in talk with both
Boeing and Airbus for hundred narrow-bodied planes with manufacturer would cost $10.6 billion-$11
billion at list prices.
 Recently, budget carrier reported second straight quarterly profit, a net profit of Rs. 72 crore for the
quarter ended June 2015 (Q1).
 Technical Outlook
 On weekly chart, since last 4 weeks, prices have been rising with increasing volume which shows
valid robust move.
 Additionally, stock has managed to close above it’s crucial resistance of 200 DMA (which stood at
24.90 levels) with above average volume, shows near to long term trend is up.
 Stock has also given breakout of it’s falling trend line as well as given breakout its previous top which
indicates strong movement can be seen in next few trading days.
 Momentum indicators RSI reading is at 70.20 marks with positive crossover point out for confident
breath in stock.
 Based on the mentioned technical setup we believe the stock could reach towards 38 levels in few
trading sessions.
Company SPICEJET
Recommendation Buy
Sector : Aviation
CMP : Buy 27.25 & upto 26.00
Price Potential : 38
Stop loss (Closing Basis): 23.65
Mkt Cap (Rs. Cr.): 1,634
TM EPS (Rs) -9.22
TTM Sales (Rs. Cr.) 4,622
BVPS (Rs.) -26.69
Reserves (Rs. Cr.) -2,199
P/BV -1.02
PE 0.00
Bloomberg Code : SJET:IN
Reuters Code : SPJT.BO
TM= Twelve months
TTM= Trailing 12 months
SEBI Certified – Research Analyst Equities I Commodities I Currencies I Mutual Funds
Pick of the Week: Spice Jet Ltd.
01st August, 2015
www.choiceindia.com *Please Refer Disclaimer on Website

2. Pick of the Week: Spice Jet Ltd.
01st August, 2015
SEBI Certified – Research Analyst Equities I Commodities I Currencies I Mutual Funds
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person from any inadvertent error in the information contained in this recommendation or any action taken on basis of this information. Technical analysis studies Aprilket psychology, price patterns and volume levels. It is used to forecast future price
and Aprilket movements. Technical analysis is complementary to fundamental analysis and news sources. The recommendations issued herewith might be contrary to recommendations issued by Choice Broking in the company research undertaken as
the recommendations stated in this report is derived purely from technical analysis. Choice Broking has based this document on information obtained from sources it believes to be reliable but which it has not independently verified; Choice Broking
makes no guarantee, representation or warranty and accepts no responsibility or liability as to its accuracy or completeness. The opinions contained within the report are based upon publicly available information at the time of publication and are
subject to change without notice. The information and any disclosures provided herein are in sumAprily form and have been prepared for informational purposes. The recommendations and suggested price levels are intended purely for trading
purposes. The recommendations are valid for the day of the report however trading trends and volumes might vary substantially on an intraday basis and the recommendations may be subject to change. The information and any disclosures provided
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is no guarantee against the loss of your entire investment.
POTENTIAL CONFLICT OF INTEREST DISCLOSURE (as on date of report) Disclosure of interest statement – • Analyst interest of the stock /Instrument(s): - No. • Firm interest of the stock / Instrument (s): - No.
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Contact Us
Kunal Pamar (Research Associate)
kunal.pamar@choiceindia.com
PERFORMANCE TRACKER
Amit Pathania(Research Associate)
amit.pathania@choiceindia.com
www.choiceindia.comcustomercare@choiceindia.com
Chandrakant Maske(Research Associate)
chandrakant.maske@choiceindia.com
Vikas Chaudhari(Research Associate)
Vikas.chaudari@choiceindia.com
Ritesh PatelResearch Associate)
Ritesh.patel@choiceindia.com
Date Lot Size
Type of
Call
Equity Initiated SL TGT Result
Profit /
Loss
Total
Profit
06.06.15 1000 Buy BHEL 246.45 225 300 Book Profit @259on 25.06.15 12.55 12550
13.06.15 125 Buy ACC 1370-1400 1330 1550 Book Profit @1477on 23.06.15 77 9625
20.06.15 125 Buy BAJAJ AUTO 2405.6 2300 2700 Book Profit @2538on 26.06.15 132.4 16550
27.06.15 100 Buy TV18BROADCAST 37.6 33 48 Book Profit @41.40on 06.07.15 3.8 380
04.07.15 500 Buy KOTAK BANK 710-720 670 800-825
11.07.15 250 Buy HDFC BANK 1092.45 1040 1160-1200
18.07.15 100 Buy GICHOUSING 233.6 215 285 Stopped out on 29.07.15 -18.6 -1860
25.07.15 125 Buy HEROMOTOCO 2740 2550 3100 Stopped out on 28.07.15 -190 -23750
Total 13495