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Movement in stocks of telecom stocks is expected to be limited on account of a truncated week, but the underlying sentiment over them remains positive. Next week, market will be closed on Monday and Friday, on account of Ambedkar Jayanti and Good Friday, respectively. Stocks are expected to trade in tandem with the broad market, which is expected to continue with its positive trend in the trading sessions next week. The National Stock Exchange's 50-stock Nifty may touch 6,819 next week.
Investors will also adopt a 'wait and watch' policy ahead of the announcement of the companies' results for Jan-Mar. Investors should wait for stocks of Bharti Airtel to cross 329 rupees in the coming sessions and if the stock is able to surpass that level, then a definite trajectory on the upside will be established. The company yesterday reported that it has been granted 3G/4G licences by Government of Chad. For Idea Cellular, pullback in the stock is complete and it is likely to experience some corrections in the coming sessions. Stocks of Reliance Communications have still got some momentum left for further upside in the coming sessions.
Movement in stocks of telecom stocks is expected to be limited on account of a truncated week, but the underlying sentiment over them remains positive. Next week, market will be closed on Monday and Friday, on account of Ambedkar Jayanti and Good Friday, respectively. Stocks are expected to trade in tandem with the broad market, which is expected to continue with its positive trend in the trading sessions next week. The National Stock Exchange's 50-stock Nifty may touch 6,819 next week.
Investors will also adopt a 'wait and watch' policy ahead of the announcement of the companies' results for Jan-Mar. Investors should wait for stocks of Bharti Airtel to cross 329 rupees in the coming sessions and if the stock is able to surpass that level, then a definite trajectory on the upside will be established. The company yesterday reported that it has been granted 3G/4G licences by Government of Chad. For Idea Cellular, pullback in the stock is complete and it is likely to experience some corrections in the coming sessions. Stocks of Reliance Communications have still got some momentum left for further upside in the coming sessions.
