Time to bet big on telecom stocks

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Time to bet big on telecom stocks

Continuing the bullish trend, the markets have opened the week in the green. In tandem with the market optimism, the telecommunication sector has seen a lot of action. News flows related to the telecom sector are certainly driving the stocks up. Is it time to get bullish on the telecom sector now?

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RELATED NEWS Stocks that were rampage-resistant Mkts witness selling pressure: Sensex below 13500 Will markets continue to rally? Trade long with stop losses: Manghnani Expect 3-4 weeks of range-bound mkts: Deepak Chhabria ALSO READ See what other experts are saying about markets See what FIIs are saying about the markets See what Udayan Mukherjee is saying about the markets Nifty BSE | NSE 29/05/12 Are Mutual Funds betting on Nifty? Other Stocks in this news Bharti Telecom | Essar Teleholdings | Mahanagar Telephone Nigam | Reliance Communications | Tata Communications |

Continuing the bullish trend, the markets have opened the week in the green. In tandem with the market optimism, the telecommunication sector has seen a lot of action. The race for Hutch is on, and it's just getting hotter.

Reliance Communications , along with Malaysian telecom major Maxis, has confirmed its interest in picking up a stake in Hutchison Essar .

While company officials of Hutch and Essar have denied moves to dilute equity in the joint venture, sources suggest that Essar is also locking up funds if there is an opportunity to buy Hutchison's stake in the joint venture.

This deal could have several implications for many of the players in the telecom space, making it extremely interesting right now.

News flows related to the telecom sector are certainly driving the stocks up. Is it time to get bullish on the telecom sector now? Experts believe so.

Technical Analyst, Deepak Mohoni likes VSNL and Reliance Communications , a safe stock, according to him. "Reliance Communications is very safe sort of stock; it does not fall very much. It does fairly well on all the rallies, may not be spectacular but steady and dependable, one might say."

Ambareesh Baliga of Karvy Stock Broking is also positive about the telecom sector.  He says, "From a momentum angle, I would possibly buy a stock like Reliance Communication or Bharti . But from a longer term investment point of view, as a dark horse, I would go with MTNL which is still quoting at good levels."

Technical analyst, Rahul Mohindar, is of the view that Bharti Airtel looks positive in long term and any dip is an investing opportunity in the stock.