Telecom Stocks Outlook for the week - 16.12.2013 - 20.12.2013 www.rupeedesk.in
Trading in telecom stocks is likely to be stock specific next week with Idea Cellular expected to move sideways, while the downside in the stocks of Bharti Airtel is seen limited. Investors next week will eye the November subscriber numbers of companies using the global system for mobile communications platform. As on Oct 31, GSM user base stood at 683.15 mln with Bharti Airtel leading the pack at 194.87 mln as per data released by GSM body Cellular Operators Association of India last month. After having traded negatively in the last one week, Bharti Airtel is seen trading sideways in the coming sessions. Long accumulation of the stock has been seen after the announcement of infrastructure sharing pact with Reliance Industries this week. Buying by institutional investors has been seen after the deal was announced and the pact is seen positive for both the companies as it will help reduce their operational cost. Bharti Infratel, the listed tower subsidiary of Bharti Airtel, will benefit from the deal and is seen trading positively in the coming sessions. Downside for Idea Cellular is seen limited with investors remaining largely bullish on the stock. Next week, the stock is expected to trade near to its all-time high of about 190 rupees. Despite having seen corrections in the last several sessions, trend for Tata Communications is seen positive with downside being limited. The stock had undergone profit booking lately, but is expected to make gains in the coming sessions. Reliance Communications, which for several sessions has not been able to cross its crucial resistance level of 135 rupees, is seen weak. Reliance Communications is expected to continue with its weak trend with selling pressure expected to continue in the stock. -- Thanks and Regards, Rupeedesk Research Team Equity-Commodity-Currency-Nifty Options www.rupeedesk.in Contact : 044-24333577 /91-9841986753/91-9094047040 --- You received this message because you are subscribed to the Google Groups "Rupeedesk Profits" group. To unsubscribe from this group and stop receiving emails from it, send an email to [email protected]. To post to this group, send email to [email protected]. Visit this group at http://groups.google.com/group/kences1. For more options, visit https://groups.google.com/groups/opt_out.
