Telecom stocks will continue to head lower: Ashwani Gujral, Fund Manager, Ashwanigujral.com

In a chat with ET Now, Ashwani Gujral, Fund Manager, Ashwanigujral.com, shares his views about Telecom stocks.

ET Now: Do you think secular bear market now has started in some of these telecom stocks?

Ashwani Gujral: A secular bear market has been there in telecom for the last 3 to 4 years. You would recall that even the rally from Bharti did not cross the previous high. So, technically that remains a bear market and now they are getting help from policy as well. And today, significant levels have been breached where at least 10% to 15% downside has opened up. So, on heavy volume when stocks break support combined with macro news on the sector, that is a heady cocktail and these stocks will continue to head lower regardless of the market.