IndiGo stock may rally to Rs 2,800, SpiceJet remains sluggish on charts

Technical chart of InterGlobe Aviation appears promising, with price action heading towards Rs 2,800. SpiceJet remains underperformer.

India’s largest airline, InterGlobe Aviation, on Tuesday set a new historic peak post ordering a fleet of 500 Airbus aircraft on June 19, making it the largest purchase agreement in the history of aviation. The biggest deal will place shares of InterGlobe Aviation in the limelight for coming sessions.

So far this year, the stock has surged 21 per cent and is trading with a strong upward bias. The optimistic sentiment has been resilient since late April this year, wherein the stock witnessed majority of its gains. 

SpiceJet, Its listed rival, has been doing well lately; the stock has plunged