Idea Cellular has support at Rs 44-45: M Thacker
Published on Monday, November 9th, 2009 at 4:46 PMAuthor: stockalert (2026 Articles)
Idea Cellular has support at Rs 44-45, says Mitesh Thacker, Technical Analyst, miteshthacker.com.
“There is a problem with the entire telecom sector and with the kind of fall that we have seen in these stocks for the last few weeks, the long term trend has very clearly changed towards the downside, which means that the stock would keep bouncing from the oversold levels and they would have rallies. But on a broader basis you would see a lower top or a lower bottom kind of a formation going on, so there is a problem in holding and investing in these stocks at these levels. Specifically talking about Idea Rs 44-45 is a very good support, so I think the stock would probably head towards those levels and give some bounce back. On the upside, Rs 55-58 would on the shorter term.”
Source : MoneyControl
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