Technical Analyst, Ashwani Gujral is of the view that Videsh Sanchar Nigam, VSNL can touch Rs 800.
Gujral told CNBC-TV18, "I have maintained that Bharti is range bound between Rs 900-1,050 and it really came back from Rs 1,050. Right now quite strangely, TTML looks to be the strongest telecom stock because that is the only one that is trading at new highs.
He further added, "RCOM is little better than Bharti and if it can maintain Rs 660 kind of levels, you could probably head back towards Rs 840-850. VSNL is another one that looks good and that could probably be headed towards Rs 800. But broadly, telecom is not consistent mover right now and one would probably try to avoid it rather than trade it. The sectors do back, probably are interest rates sensitive. Realties, cement, pharma has started today, sugar, textile probably the guys who have lead this rally so far will be taking a break for a while."
Disclosure: It is safe to assume that analyst & his clients may have an investment interest in the stocks/sectors discussed.
Source: Moneycontrol.com
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