Telecom sector under pressure; Bharti strongest of the lot: Deepak Mohoni

Bharti is probably relatively the strongest, so it being strong right now actually means not falling while the market is falling.

The entire telecom pack has been really an underperformer. We saw some bit of short covering coming last week for these stocks, these majors. Technically how would you be playing them - Bharti, Rel Comm, Idea?

Deepak Mohoni (trendwatchindia.com): Bharti is probably relatively the strongest of the three, so it being strong right now actually means not falling while the market is falling, so in the last 2-3 weeks, that's what Bharti has more or less done, so that remains the strongest of the lot. Reliance Comm, all these three have flattened out quite a lot like the market but Reliance Comm is the most vulnerable because it is quite close to its 52-week low and it has been sort of creeping towards that level or trying to get there and remember there is at least one telecom stock, which is making new lows, that's Tata Comm. MTNL has also been doing that, so overall the sector is under pressure and Bharti so far has remained in the last month or two the stronger of the lot.
ADVERTISEMENT
READ MORE

LOGIN & CLAIM

50 TIMESPOINTS

More from our Partners

Loading next story
Business News › Markets › Stocks › Recos › Telecom sector under pressure; Bharti strongest of the lot: Deepak Mohoni
Text Size:AAA
Success
This article has been saved

*

+