Idea Cellular a safe bet, says Mohindar

Idea Cellular is the safe bet in telecom space, says Rahul Mohindar, viratechindia.com.

Mohindar told CNBC-TV18, “Bharti Airtel is at an interesting point. Rs 330, undoubtedly is very good support on the stock, but again I am not particularly bullish on this long haul. My own sense is it is more of a pause that you might see around this level of Rs 330, but finally it is probably going to breakdown and move to levels like Rs 290-295. So those are the kind of targets I trade for. I think Bharti Airtel would actually be on my sell list. I think within the sector the safer haven would be Idea Cellular.”
On Feb 01, Idea Cellular was quoting at Rs 111.85, down Rs 0.75, or 0.67%. It has touched an intraday high of Rs 114.50 and an intraday low of Rs 111.10.