www.rupeedesk.in
Though most telecom stocks made losses at the end of this week's trade with the broad market remaining extremely volatile, sentiment for the sector over the long-term remains positive as it shows signs of revival. The sector is witnessing structural changes for the good and select individual stocks are expected to perform well and consolidate going ahead.
Bharti Airtel is expected to perform positively next week if it is able to trade above its 200-day moving average of 310 rupees. The long-term trend in the stock remains positive and it is currently undergoing consolidation, the stock is expected to trade in the range of 300-330 rupees next week.
Idea Cellular continues to make "higher tops and higher bottoms indicating that the stock continues to scale new levels. In the coming sessions, the stock is not expected to fall below 150 rupees and investors may hold on to stock at the current levels, While the support for the stock is seen at 150 rupees, resistance is expected at 170 rupees.
With the reversal in the positive trend, which was observed in Reliance Communications in the middle of July, the stock will remain in the bearish territory and trade weakest among the telecom stocks. Investors may go short on the stock at around 120 rupees, with a target of 105 rupees.
Though most telecom stocks made losses at the end of this week's trade with the broad market remaining extremely volatile, sentiment for the sector over the long-term remains positive as it shows signs of revival. The sector is witnessing structural changes for the good and select individual stocks are expected to perform well and consolidate going ahead.
Bharti Airtel is expected to perform positively next week if it is able to trade above its 200-day moving average of 310 rupees. The long-term trend in the stock remains positive and it is currently undergoing consolidation, the stock is expected to trade in the range of 300-330 rupees next week.
Idea Cellular continues to make "higher tops and higher bottoms indicating that the stock continues to scale new levels. In the coming sessions, the stock is not expected to fall below 150 rupees and investors may hold on to stock at the current levels, While the support for the stock is seen at 150 rupees, resistance is expected at 170 rupees.
With the reversal in the positive trend, which was observed in Reliance Communications in the middle of July, the stock will remain in the bearish territory and trade weakest among the telecom stocks. Investors may go short on the stock at around 120 rupees, with a target of 105 rupees.
