Buy Vodafone Idea, says Mazhar Mohammad

Mazhar Mohammad

Vodafone Idea appears to have registered a price and volume breakout as it witnessed massive gains on huge volumes in the last session which has erased losses of preceding 6 sessions in one attempt suggesting a bottom around 36.

Hence, positional traders are advised to adopt a two-pronged strategy of buying now and on declines between Rs 40-38 levels for an initial target of Rs 49. A stop suggested for the trade is below Rs 35 on a closing basis.