PARTY OVER: Rel Jio entry a concern; book profits on Bharti, Idea, says Ambareesh Baliga

In a chat with ET Now, market expert Ambareesh Baliga talks about whether it is the telecom sector.

ET Now: What is you take on the telecom play? How would you view from a fundamental standpoint?

Ambareesh Baliga: I would still be cautious at this point of time. It is good that the entry of Reliance Jio got delayed, because of which existing telecom companies have had a good ride in the past couple of months.

That said, investors would turn cautious on Bharti Airtel and Idea Cellular, the day Reliance Jio is launched. Therefore, at current levels, one should not take fresh positions, but look to book out profits to an extent.