Telecom have medium to long term strength

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Telecom have medium to long term strength

Technical Analyst, Rajat K Bose is of the view that Telecom stocks have medium to long term strength.

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Excerpts from Your Stocks on CNBC-TV18 Watch the full show » ALSO READ See what other Experts & Brokerages are saying about Bharti Airtel See messages about Bharti Airtel Bharti Airtel BSE | NSE 28/05/12 Are Mutual Funds betting on Bharti Airtel? Other Stocks in this news Reliance Communications | Tata Communications |

Technical Analyst, Rajat K Bose is of the view that Telecom stocks have medium to long term strength.

Bose told CNBC-TV18, "If one looks at VSNL , Bharti Airtel and Reliance Communications all these three stocks have been moving up in the last five-six trading sessions and they have come close to a resistance level and that's why one sees some kind of a reaction. These resistance levels in some cases are reaching new highs but if one does some projections then one find that they have reached a level where maybe there could be some reaction and that reaction is happening."

He further added, "I do not think that the trend reversal kind of a signal is there because these telecom stocks are taking a breather maybe some short-term traders are booking profits in them but they will once again move up, they have a lot of strength in their medium and long-term trend, so after a correction they will move up again."