IRCTC, SpiceJet, IndiGo: What charts suggest for these travel-related stks?

A convincing trade in IndiGo above Rs 1,800 levels may see a rally towards Rs 2,200

Travel-related stocks such as InterGlobe Aviation (IndiGo), SpiceJet, and IRCTC have seen sharp upside in the past one month (From November 2 - December 4). For instance, IndiGo has rallied 33 per cent while SpiceJet has surged 45 per cent during the period. Indian Railway Catering and Tourism Corporation (IRCTC), on the other and, has gained nearly 21 per cent. In comparison, the benchmark S&P BSE Sensex has risen 13 per cent, exchange data show. 

The prospect of faster-than-expected economic recovery on the back of successful Covid-19 vaccine trials has resulted in a sharp surge in aviation and travel-related stocks.