'Medium-term trend for Bharti, RComm weak'

ET Now caught up with Devang Visaria, Chief Strategist, Devangvisaria.com, to get his views on the outlook for Bharti Airtel and RComm.

Is it a good day to buy Bharti Airtel? Technically how does it look for a day trade or otherwise?

You could have small day trade going on Bharti because if it holds to it, you could possibly see a pullback back to Rs 292-295, but on the medium-term level, we are very bearish on the telecom pack led by RComm and Bharti. Both of these heavyweights are looking extremely weak on the medium-term chart. In a day trade, you could possibly get a small bounce, but as a rule, we like to trade for day trades on the long side only on stocks that are having good medium-term charts also.

RComm is a good shorting opportunity with a stop loss of around Rs 149-150. You could have a target of closer to Rs 140 on RComm over the next one or two sessions.