TTML looks good in telecom space: Amit Harchekar, IIFL
The stock is forming an inverted head & shoulder pattern which is a bullish sign.
By 
|
| In a chat with ET Now, Amit Harchekar, Sr. technical Analyst, IIFL talks about telecom sector and TTML in particular.
How do you see TTML, Bharti Airtel, Videocon on the charts?
On the telecom side, TTML looks good. In fact the stock has broken its downtrend above 22 levels and right now, the stock is forming an inverted head and shoulder pattern which is again a bullish sign. One needs to watch out levels of 25 in the near term because that becomes in the neckline of inverted head and shoulder pattern. So if that levels are taken out, we might see stock heading all the way towards 30-31. So at present if you are holding on long positions in this counter, I would suggest a stop of 22.
How do you see TTML, Bharti Airtel, Videocon on the charts?
On the telecom side, TTML looks good. In fact the stock has broken its downtrend above 22 levels and right now, the stock is forming an inverted head and shoulder pattern which is again a bullish sign. One needs to watch out levels of 25 in the near term because that becomes in the neckline of inverted head and shoulder pattern. So if that levels are taken out, we might see stock heading all the way towards 30-31. So at present if you are holding on long positions in this counter, I would suggest a stop of 22.
Too busy to trade in stocks? Invest in Mutual Funds with ET Money!
Bookmark or read stories offline -
Download ET Markets APP
Download ET Markets APP
ADVERTISEMENT
