Bullish on Bharti Airtel, Idea Cellullar: Jagannadham Thunuguntla

In a chat with ET Now, Jagannadham Thunuguntla, Equity Head, SMC Capitals, shares his views on Telecom space. Excerpt:

ET Now: What is the call that you would make for the telecom space?

Jagannadham Thunuguntla: From the trading perspective, every bounce should be used to short but if somebody is talking about a portfolio, then at Rs 300 Bharti Airtel makes sense.

Idea Cellularlooks good from portfolio perspective but they should be ready for volatility but that is what the long term investing is all about. They have to bear the pain of volatility in between but eventually these levels proved to be much better for portfolio but if it is entirely from trading point of view, every bounce should be used to short it.

ET Now: What is your call on the market?

Jagannadham Thunuguntla: I am bearish. We have been betting on Wipro, this correction we are using it to add 540-550. We are buying Wipro and TCS.

Again, all these are for medium to long term from the portfolio arguments.