Book profits in Bharti Airtel, Idea, RCom: Kulkarni

Shardul Kulkarni of Angel Broking advises traders to book profits in Bharti Airtel, Idea Cellular and Reliance Communications.

Kulkarni told CNBC-TV18, "The market is looking at individual stocks. On January 15th, 2013 Bharti Airtel, Idea Cellular as well as Reliance Communications, all these stocks were up in excess of 5 percent and today they are clearly seeing profit booking. Not to a great extent in case of Bharti but definitely in case of Idea as well as RComm. It is best to book profits and move out of these counters. You will get a decent sizeable correction in case of these stocks. So I would look at booking profits." He further added, "The classic sign that you are seeing the correction taking place today which is significant and that too on decent volumes that is a sign that you should be looking at moving out of these stocks. Although the rally was phenomenal it was as if that everyone on the street just wanted to buy into these three counters which is a herd mentality and never works on the market. So I would look at booking profits and moving out."