IndiGo’s stock price went through the roof, jumping by a whopping 9.78 percent to hit a high of Rs 5,599. After all the excitement, it settled at Rs 5,479.85, still up by 7.45 percent. This surge means that the scrip has climbed a solid 19.35 percent on a year-to-date basis. If you’re into all the technical jargon, experts are saying that we need to see the stock break past the Rs 5,600-5,650 levels for even more gains.

InterGlobe Aviation Ltd, the parent company of IndiGo, also saw a surge in interest from buyers on Monday. And why, you ask? Well, it’s all thanks to the Indo-Pak ceasefire announcement that opened up Indian airspace once again for commercial flights. The closure of 32 airports across the country had caused quite a bit of chaos, but now that the Notices to Airmen have been cancelled, things are looking up for both domestic and international airlines.

As for where IndiGo’s stock is headed, market experts believe that the range of Rs 5,350-5,300 will provide strong support. But hey, for all the optimists out there, a move above Rs 5,600-5,650 could mean even more upside potential. Kunal Kamble from Bonanza thinks that as long as the stock stays above Rs 5,350, we could see it reach Rs 5,926 and maybe even Rs 6,210 in the short to medium term.

Jigar S Patel from Anand Rathi has his eyes set on that Rs 5,600 resistance level. He’s thinking that if we break past that, we could be looking at Rs 5,800 next. And for the short term, he’s expecting the stock to trade between Rs 5,200 and Rs 5,800. Ravi Singh from Religare Broking, on the other hand, thinks that Rs 5,650 is a tough nut to crack for IndiGo. But if we do manage to push past that, immediate support will be at Rs 5,500.

Now, if you’re a fan of technical analysis, you’ll be interested to know that IndiGo’s stock is trading above all the moving averages – the 5-day, 10-day, 20-day, you name it. The 14-day relative strength index (RSI) is sitting at 58.91, which is a decent spot to be in. Anything below 30 is considered oversold, while anything above 70 is overbought.

Looking at some numbers, the stock has a P/E ratio of 34.86 and a P/B value of 56.65. The earnings per share (EPS) is at 157.18, and the return on equity (RoE) is 162.65. And if you’re into volatility, IndiGo has a one-year beta of 0.9, which means it’s not too wild of a ride.

So, there you have it, folks. IndiGo’s stock is on the up and up, riding high on the news of the airspace reopening. Will we see it break past that Rs 5,600 mark? Maybe it’s just me, but I feel like we’re in for an interesting ride with this one.