MTNL looks to target 85, Idea on 185-190: Devang Visaria

ET Now caught up with Devang Visaria, Chief Strategist, Devangvisaria.com, to get views on the outlook of telecom stocks.

ET Now: MTNL and Reliance Comm are your buyer recommendation, what about Bharti and Idea?

Devang Visaria: Idea has already moved up quite a lot, doesn't seem to be catching up the momentum. MTNL stock has been a laggard for the last three or four months. So I think, suddenly you will find lot of momentum coming into the market. Its like a thing where market suddenly runs out of ideas and all the beaten down stocks start moving up.

So MTNL unfortunately belongs to that category of stocks and I think it should easily see 85 or so levels. IDFC has been consolidating for quite a few while now. I think good chart on the weekly as well as the daily you could easily see 185-190 on Idea.