Idea Cellular may slip further: Sukhani

Idea Cellular may slip further, says Sudarshan Sukhani of s2analytics.com.
 
Sukhani told CNBC-TV18, "Idea Cellular charts have turned terrible just as Bharti Airtel has now given the sign of a confirmed head and shoulder breakdown. Idea Cellular is making a pattern called descending triangle, another major distribution pattern. So, in the intermediate term much more downside is there. However, for the day traders, for the short-term traders, lower levels are coming.”
 
Idea Cellular touched its 52-week high Rs 124.00 and 52-week low Rs 71.20 on 16 January, 2013 and 24 April, 2012, respectively. Currently, it is trading 13.75 percent below its 52-week high and 50.21 percent above its 52-week low. Market capitalisation stands at Rs 35,437.94 crore.