Bharti Airtel doesn't look great on the charts: Deepak Mohoni

Deepak Mohoni, Director, trendwatchindia.com in a chat with ET Now gives his take on the Bharti and Cairn India stocks.

Purely on the charts, what are your views on Bharti and Cairn India?

If you look at what happened on Tuesday, Bharti fell very sharply in the first hour and then again in the last hour. Some pressure has come in and so far the market has never liked its takeovers. Bharti may be seeing a downside pressure. This is a complete reversal of what was happening till Monday. Till Monday, it was on a very nice rally, then it certainly changed. Maybe the market got wind of this deal earlier or suspected it. So Bharti does not look so great.

Cairn India had a good finish on Tuesday but crude oil started falling again. Cairn India is so heavily linked to crude oil that one has to got to take that factor into point of view.