Not too bullish on Bharti Airtel: Deepak Mohoni

Bharti Airtel and SBI. How are they looking on the charts?

Deepak Mohoni: Bharti came down pretty badly with all the telecom stock until a couple of sessions back but it had a decent rally this week and we saw a bit of that on Tuesday as well, though it closed well below the high of the day. So I do not think there is a telecom recovery as such, it seems to be very Bharti specific move but I would not be terribly bullish on it. It is not such a strong move.

SBI on the other hand is following the results, it really cracked quite a bit, went down to a 2 or 3-month low and worst time to recover from there. Tuesday again, it got hit. So State Bank you have got to look out for the 3000 mark. Below that would mean that it is not really moot to recover. If it forms a bottom there and starts going up above 3200, it could be back in some intermediate uptrend but it is no longer possessing the momentum that we saw last month and earlier this month.