Idea Cellular can test Rs 120, says Sukhani

Idea Cellular can test Rs 120, says Sudarshan Sukhani of s2analytics.com.

Sukhani told CNBC-TV18, "I would look at Rs 120 in Idea Cellular soon enough. Telecom stocks are now likely to bounce from the correction that they have already seen. The trend for both Bharti Airtel and Idea is up.”
At 10:45 hrs Idea Cellular was quoting at Rs 115.70, up Rs 1.55, or 1.36%. It has touched an intraday high of Rs 116.95 and an intraday low of Rs 114.90.
The share touched its 52-week high Rs 124 and 52-week low Rs 71.20 on 16 January, 2013 and 24 April, 2012, respectively. Currently, it is trading 6.69% below its 52-week high and 62.5% above its 52-week low. Market capitalisation stands at Rs 38,329.39 crore.