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Stocks of telecom companies are expected to trade with a positive bias next week, as investors have mostly taken long positions in March futures series. Lack of any major positive announcement for the sector in the Union Budget for 2013-14 (Apr-Mar) Thursday is seen having a negligible effect on the stocks, which has predominantly remained subdued over the last one year on account of regulatory issues. The stocks are expected to be in a range, with the gains capped as clear signs of consolidation are still not visible. Long rolls continued in Idea Cellular. Long positions indicate the stocks are expected to rise in the future, while short positions show they are likely to decline. Even after the decision of companies such as Bharti Airtel and Idea Cellular to refrain from bidding in this month's 2G spectrum auction, a decision seen positive for them, the stocks have not shown any sign of consolidation and breakout for higher levels is yet to be seen.
Stocks of telecom companies are expected to trade with a positive bias next week, as investors have mostly taken long positions in March futures series. Lack of any major positive announcement for the sector in the Union Budget for 2013-14 (Apr-Mar) Thursday is seen having a negligible effect on the stocks, which has predominantly remained subdued over the last one year on account of regulatory issues. The stocks are expected to be in a range, with the gains capped as clear signs of consolidation are still not visible. Long rolls continued in Idea Cellular. Long positions indicate the stocks are expected to rise in the future, while short positions show they are likely to decline. Even after the decision of companies such as Bharti Airtel and Idea Cellular to refrain from bidding in this month's 2G spectrum auction, a decision seen positive for them, the stocks have not shown any sign of consolidation and breakout for higher levels is yet to be seen.
