Avoid Bharti Airtel and Idea Cellular: Hemant Kale

Hemant Kale, MD, Maia Financial Services, in a chat with ET Now talks about telecom stocks.

If you could just throw some light on two stocks within the telecom space which certainly closed with a flourish Idea Cellular as well as Tata Telly?

Definitely, what I feel is this telecom space is little in a mix bag because Bharti Airtel which has been doing well all this time is now getting into an intermediate kind of a correction. Idea Cellular also is showing some kind of a similar trend. I think you should avoid these stocks at the moment unless they start showing some kind of a reversal. Reliance Communication for that matter has been doing well and showing some kind of uptrend getting built up, it was recommended by me last week also and that trends will hold for some period of time. TTML looks to be convincing only above 26, some kind of accumulation seems to be happening in that space in that stock specifically above 25 something where you can expect some kind of momentum over the intermediate term.